David Reiss (fashion retailer) explained

David Reiss
Birth Place:London, England
Known For:Founder, Reiss
Spouse:Rosemary Reiss
Parents:Joshua Reiss
Children:3

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

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. 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,[5] including stores in Boston, San Francisco, Washington, D.C., and Los Angeles.[6] Additional stores opened in Short Hills, New Jersey and Boca Raton, Florida.[7]

In April 2016, a majority stake was sold to the American private equity firm Warburg Pincus for £230 million.[8]

Personal life

Reiss is married to Rosemary Reiss;[9] they have three children: Ali, Debbie and Darren, and lives in Hampstead, London.[10] 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.[11] David's eldest daughter Ali was involved in the business for many years before leaving in her 30s to concentrate on her children.[12]

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

Notes and References

  1. News: Rich List 2019: profiles 501-542=. Times. The Sunday. 2019-05-12. 2019-10-14. en. 0140-0460.
  2. Web site: REISS LIMITED - Officers (free information from Companies House) . Beta.companieshouse.gov.uk . 9 April 2017.
  3. Web site: Sam Reiss z”l, 1903-1995. Melchett. Mike. melchett mike blog. Mike Melchett. 27 March 2009. 22 August 2009.
  4. News: On the edge with the elusive Mr Reiss. Pagano. Margareta. 4 May 2008. The Independent on Sunday. Independent News and Media. 22 August 2009.
  5. News: Reiss goes global. Berwin. Lisa. 25 October 2007. Retail Week. Emap. 22 August 2009.
  6. News: David Reiss, founder of retail powerhouse Reiss. https://web.archive.org/web/20121026073428/http://www.highbeam.com/doc/1G1-146647520.html. dead. 26 October 2012. Pallay. Jessica. 29 May 2006. Daily News Record, archived at HighBeam. Fairchild Publications. 22 August 2009.
  7. News: Reiss Finds Niche with Midrange, Urban Chic . Linden . Kerri . October 2007 . Shopping Centers Today . ICSC . 22 August 2009 . dead. https://web.archive.org/web/20090430185333/http://www.icsc.org/srch/sct/sct1007/retail_reiss_urban.php . 30 April 2009 .
  8. Web site: Zoe Wood . Reiss sold to US private equity firm | Business . The Guardian . 9 April 2017.
  9. https://www.questia.com/newspaper/1G1-147070994/the-irrepressible-rise-of-reiss-david-reiss-a-little-known 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
  10. News: David Reiss: Top retailer is well suited to the high street buzz. Thompson. James. 30 August 2008. The Independent. Independent News and Media. 22 August 2009.
  11. News: Danny Boyle. Lexi Finnigan. Debra Reiss, daughter of Reiss founder, dies aged 34. 26 September 2015. The Daily Telegraph. 9 September 2015.
  12. News: Why Reiss is not for sale. Hall. James. 30 July 2006. Daily Telegraph. Telegraph Media Group. 22 August 2009.
  13. Web site: On the edge with the elusive Mr Reiss . The Independent . 9 April 2017.

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