Retailer Sy Syms Dies
Sy Syms, 83, the discount clothing retailer who told television viewers for 35 years that "an educated consumer is our best customer," died today of heart disease in New York City.
According to a press release, Mr. Syms founded his business in New York's financial district in 1959, and was the first retailer to sell off-price men's clothing. He narrated his well-known slogan in his first television commercial in 1974 and is used to this day. In 1983, when SYMS had expanded to 11 stores, Mr. Syms took the company public. He remained CEO of SYMS Corp. until 1998, when he was succeeded by daughter, Marcy. Mr. Syms continued as the company's chairman until his death.
Today, SYMS Clothing has 30 stores in 13 states. In June 2009, SYMS acquired Filene's Basement. The company currently operates 52 stores under the SYMS and Filene's Basement brands. SYMS branched out in 1980 to acquire the luxury haberdasher A. Sulka & Company, which it sold in 1989.
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