Retail pioneer Sy Syms dies at 83

NEW YORK, N.Y. -
Sy Syms, who pioneered selling off-price clothing and built his retail chain, the Syms Corporation , into a national brand, died on Tuesday at his home in Manhattan. He was 83.

Mr. Syms died of heart failure after suffering from heart disease for many years according to media reports. His daughter, Marcy Syms, took over from her father as chief executive of Syms, which today has 52 stores, in 1998. Mr. Syms remained chairman of the company until his death.

He was born Seymour Merinsky, and grew up in Brooklyn, the youngest of eight living children born to Russian immigrants.

Syms focused on marketing close-outs and leftovers produced by name-brand clothing companies.

His company slogan, 'An educated consumer is our best customer' became famous throughout the industry.