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| Type | Electronics |
|---|---|
| Founded | 1976 (as electronics retailer, defunct 2003) 2004 (as an online retailer owned by P.C. Richard) |
| Headquarters | Carteret, New Jersey |
| Industry | Retail |
| Products | Computers, televisions, VCRs, and DVD players |
| Website | http://www.thewiz.com |
The Wiz was a chain of electronic stores in the northeastern United States, located primarily in New York and New Jersey. The chain was founded by four brothers, Douglas, Lawrence, Marvin, and Stephan Jemal, in New York City in 1977. Later, it officially changed its name to its well-known advertising slogan, Nobody Beats The Wiz.
During the early-to-mid 1990s Nobody Beats The Wiz was a major sponsor for all local NY sports franchises, including the Devils, Islanders, Knicks, Mets, New Jersey Nets, Rangers, and Yankees, and had a significant television advertising presence during local sports events.
In 1998, after having expanded significantly, the chain filed for bankruptcy and was purchased by Cablevision for $80 million. Cablevision eventually dropped the Nobody Beats the Wiz slogan, which had been used extensively in the 1980s and 90s.
At its peak, the firm's revenues were $1.4 billion, with 2000 employees, including "Pump It Up" sensation Joe Budden, operating 94 stores in New York, New Jersey, Connecticut, Maryland and Massachusetts. At one time, it also operated music-only stores in Maryland and the Washington, D.C. area.
The chain closed permanently in 2003. According to a Stereophile Magazine article from February 16, 2003, a Cablevision press release stated: "Continuing to operate the stores is no longer a viable option for Cablevision as business conditions at the retailer eroded due to a weakened retail economy and other factors." Once The Wiz closed, one of its founders Marvin Jemal opened a new electronics chain, The Zone, in a number of former Wiz locations. The new chain, which heavily mentioned that it was from the founder of The Wiz, went out of business less than two years later.
Closing The Wiz left P.C. Richard & Son, J&R, 6th Avenue Electronics, Electronics Expo and B&H, as the New York City metro area's remaining regional electronics chains, with much of the consumer electronics market dominated by national chains such as Best Buy, Target and Walmart. P.C. Richard currently operates TheWiz.com, an online marketplace which uses the old Nobody Beats The Wiz logo.
In popular culture
The Wiz was included in the lyrics of the 1988 hip hop song It Takes Two by Rob Base and DJ E-Z Rock [1]
The Wiz was featured in the Seinfeld episode The Junk Mail. While going through an old VHS tape, Jerry discovers an old commercial that features "The Wiz," a mascot for the electronics store of the same name. A full Wiz commercial is played during this episode.
References
- ^ "lyrics.filestube.com", URL retrieved September 14, 2009
External links
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