Overview
Stephen Jemal is an American entrepreneur best known as the founder and former CEO of Nobody Beats the Wiz,
the iconic electronics retail chain that revolutionized consumer electronics shopping in the United States.
- 110 Stores - Peak retail locations across six states
- 6,000 Employees - Team members at company's height
- $2.5 Billion - Annual sales at peak performance
- #13 Brand - Ranked among America's top retail brands
Early Life and Background
Born on February 17, 1956, in Brooklyn, New York, Stephen Jemal grew up in a family deeply rooted in the
electronics retail business. His father, Douglas Jemal, founded The Wiz in 1976, initially as a small
electronics store on Fulton Street in Brooklyn. Stephen joined the family business at a young age and would
eventually transform it into one of the nation's most recognized retail brands.
Jemal attended Pace University, where he developed his business acumen that would later prove instrumental
in expanding The Wiz empire. His entrepreneurial spirit and innovative marketing strategies helped
differentiate the company in an increasingly competitive market.
The Wiz: Building an Empire
Under Stephen Jemal's leadership, Nobody Beats the Wiz grew from a single Brooklyn storefront into a retail
powerhouse. The company's catchy slogan and aggressive marketing campaigns made it a household name
throughout the New York metropolitan area and beyond.
Key Achievements:
-
Expanded from 1 store to 110 locations across New York, New Jersey, Pennsylvania, Connecticut,
Massachusetts, and Maryland
- Grew workforce to over 6,000 employees
- Achieved annual sales exceeding $2.5 billion at peak
- Ranked #13 among America's most recognized retail brands
- Pioneered innovative retail strategies in electronics selling
Marketing Innovation:
The company's memorable advertising campaigns, featuring the tagline "Nobody Beats the Wiz," became iconic
in American retail. Jemal's marketing approach emphasized competitive pricing, extensive product selection,
and customer service, setting new standards in consumer electronics retail.
Sale and Legacy:
In 1998, The Wiz was sold to Cablevision for approximately $80 million. The chain continued operations until
2003 when it ceased operations after facing increased competition from big-box retailers and online
commerce. Despite its closure, Nobody Beats the Wiz remains a beloved cultural touchstone for millions of
customers who shopped there during its peak years.
JemRock Organization & Innovation
Following his success in retail, Stephen Jemal transitioned into real estate development and construction
innovation. As President and CEO of JemRock Organization LLC, he works closely with his sons—Norman,
Solomon, Richard, and James. JemRock Organization operates through three innovative divisions, each
addressing critical needs in modern housing and construction.
BUILT Factory
BUILT Factory is the innovation engine behind Pasha and Central, redefining how housing is conceived and
constructed. Using advanced robotics, artificial intelligence, and cloud-based technology, BUILT Factory
automates the entire manufacturing process for building components with specialized production lines. This
revolutionary approach enables unprecedented construction speed, efficiency, and quality control.
Pasha - Live, Visit, Work, Be Well
Pasha is a new standard in modern living, offering reasonably priced apartments that deliver the quality,
style, and comfort typically reserved for luxury residences. Designed with an emphasis on high-end finishes,
contemporary layouts, and thoughtful amenities, Pasha creates a lifestyle that feels aspirational yet
remains attainable. These Manhattan locations provide residents with the perfect blend of sophistication and
accessibility.
Central - Live, Work, Be Well
Central is built around the idea that affordable housing should never mean compromising on design or
livability. These apartments are carefully planned to maximize space, efficiency, and comfort, while keeping
costs accessible for individuals and families. Central focuses on creating strong, welcoming communities
where residents can thrive without financial strain.
Media References and Recognition
Legacy and Impact
Stephen Jemal's entrepreneurial journey exemplifies the American success story. From building Nobody Beats
the Wiz into a retail empire to his current ventures in real estate and construction innovation, Jemal has
consistently demonstrated vision, adaptability, and business acumen.
His contributions to retail innovation, particularly in the consumer electronics sector, influenced how
Americans shop for technology products. The Wiz's customer-centric approach and competitive pricing
strategies set standards that continue to influence retail practices today.
Today, Jemal continues to innovate in real estate development, applying the same customer-focused principles
that made Nobody Beats the Wiz successful to creating exceptional living and working spaces for the 21st
century.