Monroe Milstein
Co-founder 1972Background
Monroe Milstein founded Burlington Coat Factory in 1972 with a specific mission to disrupt the traditional department store monopoly on winter outerwear by selling high-quality branded coats directly to consumers in a low-touch, high-volume warehouse environment. His defining founding philosophy was that consumers would gladly sacrifice retail luxury and customer service in exchange for undeniable discounts on premium branded goods, a vision that laid the groundwork for the modern off-price 'treasure hunt' experience.
Role at Burlington Stores, Inc.
Burlington was founded in 1972 by Monroe G. Milstein, a brilliant, pragmatic merchant whose family had deep roots in the garment industry. The Milstein family originally operated a wholesale outerwear business in New York City starting in the 1920s. Monroe Milstein grew up in the business, learning the brutal, fast-paced economics of the garment district. In 1972, Milstein recognized a retail opportunity. He purchased a former factory and warehouse facility in Burlington, New Jersey (which provided the company's name). His foundational idea was to bypass traditional department stores entirely. He bought quantities of brand-name winter coats directly from manufacturers at wholesale prices and sold them straight to the public out of the cavernous, no-frills warehouse. He offered a selection at significantly discounted prices, pioneering the 'off-price' retail model long before it became a dominant force in American retail. The early success of Burlington Coat Factory was driven entirely by Milstein's legendary prowess as an opportunistic buyer and his refusal to spend money on expensive store fixtures or interior design. He believed consumers only cared about the price on the tag, not the carpet on the floor. Milstein took the company public in 1983, but eventually took it private again in a $2 billion buyout by Bain Capital in 2006. While the company eventually dropped 'Coat Factory' from its name to reflect its diversification into all categories of apparel and home goods, the foundational, ruthless merchant culture established by Monroe Milstein—the obsession with securing the best deal from vendors and passing the savings to the customer—remains the core of the company's multi-billion dollar success today.