Marks was born in Slonim, at that time part of the Russian Empire and now in Belarus, as Michał Marks of Jewish ancestry, and emigrated to England. His date of birth is unknown; his naturalisation papers say 1859, but his marriage certificate suggests 1863 or 1864. He moved to Leeds where a company called Barran was known to employ Jewish refugees. He married Hannah Cohen at the Great Synagogue on Belgrave Street, Leeds, in 1886.
Marks met Isaac Dewhirst, the owner of a Leeds warehouse, in 1884. A deal was arranged whereby Marks agreed to buy goods from Dewhirst and to sell them in nearby villages. The venture was a success and enabled Marks to raise enough capital to establish a stall in Leeds' open market. He also sold goods at Castleford and Wakefield markets.
Marks also made the decision to rent an area at the new covered market in Leeds, which traded six days of the week. Famously, one of his stalls sold goods that cost only one penny. Next to the stall was a poster with the words "Don't Ask the Price, It's a Penny". Over the next few years, Marks expanded his business and opened similar stalls in covered market halls all over Yorkshire and Lancashire.
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