David Reiss (fashion retailer)

Last updated

David Reiss
BornMay 1943 (age 81)
London, England
Known forFounder, Reiss
SpouseRosemary Reiss
Children3
ParentJoshua Reiss

David Anthony Reiss (born May 1943) is the founder of the British global fashion chain Reiss.

Contents

According to The Sunday Times Rich List in 2019, Reiss is worth £240 million. [1]

Early life

David Anthony Reiss was born to a Jewish family in May 1943. [2] His father, Joshua Reiss, operated a store in Bishopsgate that was founded by his uncle, Samuel Reiss (born 1903) who was an immigrant from a south-eastern Polish shtetl in Radomyśl Wielki. [3] His family were members of the orthodox Raleigh Close (Hendon United Synagogue). [3]

Career

David took over his father's gentlemen's outfitters on the corner of Bishopsgate and Petticoat Lane in the City of London, in 1971, when he was in his 20s. [4]

Today Reiss is the last big owner-founder entrepreneur left in British retail. [4] Reiss has a target to open 260 stores around the world, including 100 franchise stores (the company has already signed a deal for 40 in Europe, the Far East and the Middle East), and 50 stand-alone stores in Europe and the United States. [5] The debut in New York City proved a success, recouping the money Reiss invested in just one year, which made Reiss continue pursuing his international plans and in 2007 the retailer boasted eight more US stores, [6] including stores in Boston, San Francisco, Washington, D.C., and Los Angeles. [7] Additional stores opened in Short Hills, New Jersey and Boca Raton, Florida. [8]

In April 2016, a majority stake was sold to the American private equity firm Warburg Pincus for £230 million. [9]

Personal life

Reiss is married to Rosemary Reiss; [10] they have three children: Ali, Debbie and Darren, and lives in Hampstead, London. [11] Reiss's son is a director at HSBC, and his daughter Debra worked for the chain in Los Angeles until her death from a long-term illness in 2015. [12] David's eldest daughter Ali was involved in the business for many years before leaving in her 30s to concentrate on her children. [5]

His "only extravagance" is a Bentley. [13]

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References

  1. ↑ Times, The Sunday (12 May 2019). "Rich List 2019: profiles 501-542=". ISSN   0140-0460 . Retrieved 14 October 2019.
  2. ↑ "REISS LIMITED - Officers (free information from Companies House)". Beta.companieshouse.gov.uk. Retrieved 9 April 2017.
  3. 1 2 Melchett, Mike (27 March 2009). "Sam Reiss z"l, 1903-1995". melchett mike blog. Mike Melchett. Retrieved 22 August 2009.
  4. 1 2 Pagano, Margareta (4 May 2008). "On the edge with the elusive Mr Reiss". The Independent on Sunday. Independent News and Media. Retrieved 22 August 2009.
  5. 1 2 Hall, James (30 July 2006). "Why Reiss is not for sale". Daily Telegraph. Telegraph Media Group. Retrieved 22 August 2009.
  6. ↑ Berwin, Lisa (25 October 2007). "Reiss goes global". Retail Week. Emap. Retrieved 22 August 2009.
  7. ↑ Pallay, Jessica (29 May 2006). "David Reiss, founder of retail powerhouse Reiss". Daily News Record, archived at HighBeam. Fairchild Publications. Archived from the original on 26 October 2012. Retrieved 22 August 2009.
  8. ↑ Linden, Kerri (October 2007). "Reiss Finds Niche with Midrange, Urban Chic". Shopping Centers Today. ICSC. Archived from the original on 30 April 2009. Retrieved 22 August 2009.
  9. ↑ Zoe Wood. "Reiss sold to US private equity firm | Business". The Guardian. Retrieved 9 April 2017.
  10. ↑ The Evening Standard: "The Irrepressible Rise of Reiss; David Reiss, a Little-Known Tailor's Son, Is Poised to Beat Stuart Rose and Philip Green to a Truly Global British Brand With 250 Stores Worldwide" by DAVID HAYES retrieved 8 April 2017
  11. ↑ Thompson, James (30 August 2008). "David Reiss: Top retailer is well suited to the high street buzz". The Independent. Independent News and Media. Retrieved 22 August 2009.
  12. ↑ Danny Boyle, Lexi Finnigan (9 September 2015). "Debra Reiss, daughter of Reiss founder, dies aged 34". The Daily Telegraph . Retrieved 26 September 2015.
  13. ↑ "On the edge with the elusive Mr Reiss". The Independent. Retrieved 9 April 2017.
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