Sy Syms, Retail Magnate and Y.U. Benefactor, Dies at 83
By Josh Nathan-Kazis November 17, 2009
Sy Syms, the founder of the discount retail clothing chain Syms and the founding board member of the Sy Syms School of Business at New York’s Yeshiva University, died November 17. He was 83, and the cause of death was heart failure.
Syms, born Seymour Merinsky, served in the U.S. Army and worked as a sportscaster before opening his first retail store in 1959 on Cortland Street in Lower Manhattan — around the corner from a rival establishment operated by his brother. Sy Syms eventually grew his business into a national chain that now has 30 locations.
He was among the first clothing retailers to make designer fashions affordable to middle class consumers. Earlier this year, Syms’ company purchased the off-price department store Filene’s Basement.
Through the Sy Syms Foundation, Syms supported various Jewish and non-Jewish causes, including the UJA-Federation of New York, The Clarion Fund and the Inner-City Scholarship Fund.
Most notably, in 1987, Syms donated a$5 million towards the creation of the Sy Syms School for Business, an undergraduate school at Y.U. Syms continued to support the university and its business school throughout his life, according to a university spokesman.
The Syms School was the subject of controversy in late 2008, when Bernard Madoff resigned from his position as chairman of the board, after his multibillion-dollar Ponzi scheme was exposed.
Syms is survived by his wife; six children and stepchildren; 10 grandchildren, and three sisters.
I’m personally matching all gifts to the Forward, up to $36,000. Can I match your gift now?
Hello, fellow Forward reader! I’m Joel Brown, a Forward reader and supporter for more than 15 years, and currently the chair of the board of directors.
I’m an avid Forward reader because it ticks so many of my essential boxes: excellent journalism, Jewish focus and diverse viewpoints. In today’s political climate, what I most appreciate is the Forward’s independence — made possible by the generosity of its membership.
The Forward is committed to bringing you unbiased, nuanced Jewish news. From my position as board chair, I see an exciting future as we expand our position as the definitive independent voice of contemporary American Judaism.
— Joel Brown, Forward board chair
Support our mission to tell the Jewish story fully and fairly.
