
Just 50 years after the founding of the colony, Mr David Jones, a Welsh-born immigrant, opened "large and commodious premises" on the corner of George and Barrack Streets on 24 May 1838.
His mission:
to sell "the best and most exclusive goods" and to carry "a stock that embraces the everyday wants of mankind at large."

The small store prospered. Its location on the main artery of the new town, opposite the General Post Office, was a brilliant choice. David Jones and Co. received patronage from not only the Sydney gentry, but also the country settlers. They flocked to the store to buy buckskins, ginghams, waistcoat fabrics, silks, cotton tick.

David Jones eventually retired and left the management of the store to his business partners. Unfortunately, the store failed and the assets of David Jones were assigned to Trustees. He came back out of retirement, borrowed heavily, and with the help of new partners and his son Edward Lloyd, managed to recreate the store's success.

Edward Jones had travelled widely overseas, and brought back to Sydney new ideas in retailing, including the European concept of a "department" store.