Stanley Marcus, former president of Marcus Jewelers, a 12-store chain in New Jersey, was inducted into the Free Enterprise Hall of Fame by the Foundation for Free Enterprise, during the organization’s 19th annual luncheon held Wednesday in Mahwah, N.J.
The FFE’s mission is to expand the understanding and appreciation of economic concepts, theory, and principles as they apply to the free market. Marcus was honored for his dedication toward the mission of the Paramus, N.J.-based organization.
After serving in World War II, where he received a Purple Heart and Bronze Star, he returned to finish college at enrolled in at the Rutgers-Newark. At about the same time, his father opened a jewelry store in Rutherford and became ill. Without completing college, Marcus took over the jewelry business and built it into a chain of 12-store chain, which he sold in the 1980s.
In addition to running a successful jewelry operation, Marcus served as chairman of the Jewelers’ Security Alliance, as senior counsel to the Gemological Institute of America, and as a director of the Jewelry Industry Council.
Marcus also had an active life outside of jewelry business. He was the founder of the Ramapo College Foundation; he helped to build the Holocaust Center at Ramapo College; and is a Director of the Middle Eastern Studies Council at the John F. Kennedy School of Harvard University.
Marcus also was one of 14 World War II veterans to receive France’s prominent “Legion of Honor” medal in a ceremony held in Princeton on Sept. 26, 2006.