Sy Syms, Pioneer In Discount Clothing Dies

Sy Syms, founder and chairman of the SYMS Corp. discount clothing chain, died of heart failure this week in New York. He was 83. Syms founded his apparel business in 1959 in New York's financial district as a discount retailer of off-price men's clothes. The company uses the slogan, "An educated consumer is our best customer."

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RENEE MONTAGNE, host:

And our last word in business today comes from Seymour Merinsky. He was fond of saying an educated consumer is our best customer. Merinsky is better known as Sy Syms, a pioneer in the discount clothing business. That slogan would appear in ads that Syms himself starred in starting in the 1970s. Over the years, his company expanded out of New York City and into suburban malls.

His daughter Marcy will take over as CEO. And this year, she oversaw the takeover of another discount retailer, Filene's Basement. When he died this week at age 83, the company that Sy Syms built had 52 stores around the country.

And that's the business news on MORNING EDITION from NPR News. I'm Renee Montagne.

STEVE INSKEEP, host:

And I'm Steve Inskeep.

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