David Reiss (fashion retailer)

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David Reiss
Born David Anthony Reiss
May 1943 (age 73)
London, England
Residence Hampstead, London, England
Nationality British
Known for Founder, Reiss
Net worth £125 million (September 2015)[1]
Spouse(s) married
Children 3
Parent(s) Joshua Reiss

David Anthony Reiss (born May 1943) is the founder of the British global fashion chain Reiss, which originated from a store in Bishopsgate that David inherited from his father, Joshua Reiss. The original store was started by David's granduncle Samuel Reiss (born 1903), who was an immigrant from a south-eastern Polish shtetl in Radomyśl Wielki.[2] In London, David's grandfather's family became members of the orthodox Raleigh Close (Hendon United Synagogue).[2]

Early life[edit]

David Anthony Reiss was born in May 1943.[3]

Career[edit]

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] The brand is not a family-run business as such. Reiss's son is a director at HSBC, and his daughter Debra worked for the chain in Los Angeles until her death in 2015.[5] David's eldest daughter was involved in the business for many years before leaving in her 30s to concentrate on her children.[6] Reiss lives with his wife in Hampstead, London.[7]

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.[6] 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,[8] including stores in Boston, San Francisco, Washington, D.C., and Los Angeles.[9] Additional stores opened in Short Hills, New Jersey and Boca Raton, Florida.[10]

In April 2016, a majority stake was sold to the American private equity firm Warburg Pincus for £230 million.[11]

Personal life[edit]

Reiss is married, with three children, Ally, Debbie and Darren, and lives in Hampstead, London. His "only extravagance" is a Bentley.[12]

His daughter Debra died suddenly in 2015 from a "long-term illness".[13]

Notes[edit]

  1. ^ http://www.dailymail.co.uk/news/article-3227904/Heiress-Reiss-empire-dies-Debra-Reiss-brand-director-fashion-firm-father-started-1971.html
  2. ^ a b Melchett, Mike (27 March 2009). "Sam Reiss z"l, 1903-1995". melchett mike blog. Mike Melchett. Retrieved 2009-08-22. 
  3. ^ https://beta.companieshouse.gov.uk/company/02655347/officers
  4. ^ a b Pagano, Margareta (4 May 2008). "On the edge with the elusive Mr Reiss". The Independent on Sunday. Independent News and Media. Retrieved 2009-08-22. 
  5. ^ Danny Boyle, Lexi Finnigan (9 September 2015). "Debra Reiss, daughter of Reiss founder, dies aged 34". The Daily Telegraph. Retrieved 26 September 2015. 
  6. ^ a b Hall, James (30 July 2006). "Why Reiss is not for sale". Daily Telegraph. Telegraph Media Group. Retrieved 2009-08-22. 
  7. ^ Thompson, James (30 August 2008). "David Reiss: Top retailer is well suited to the high street buzz". The Independent. Independent News and Media. Retrieved 2009-08-22. 
  8. ^ Berwin, Lisa (25 October 2007). "Reiss goes global". Retail Week. Emap. Retrieved 2009-08-22. 
  9. ^ Pallay, Jessica (29 May 2006). "David Reiss, founder of retail powerhouse Reiss". Daily News Record, archived at HighBeam. Fairchild Publications. Retrieved 2009-08-22. 
  10. ^ Linden, Kerri (October 2007). "Reiss Finds Niche with Midrange, Urban Chic". Shopping Centers Today. ICSC. Retrieved 2009-08-22. 
  11. ^ http://www.theguardian.com/business/2016/apr/13/reiss-sold-to-us-private-equity-firm-duchess-of-cambridge
  12. ^ http://www.independent.co.uk/news/business/analysis-and-features/on-the-edge-with-the-elusive-mr-reiss-820744.html
  13. ^ http://www.dailymail.co.uk/news/article-3227904/Heiress-Reiss-empire-dies-Debra-Reiss-brand-director-fashion-firm-father-started-1971.html