Reitmans CEO Jeremy Reitman led the fashion chain with his brother for half a century GlobeBusiness
Jeremy Reitman, president and CEO of Reitman's Canada, is photographed at the International Council of Shopping Centers Conference at the Metro Toronto Convention Centre in Toronto, on Sept. 20, 2006.Jeremy Reitman, who has died at the age of 74, was the chairman and CEO of Reitmans, the Canada-wide retail chain his grandparents started in 1926. He and his brother, Stephen Reitman, ran the company together for almost 50 years.
Mr. Reitman, a hands-on executive who oversaw every detail of the operation, watched as the online revolution in retail profoundly changed the way consumers buy clothing. Reitmans Ltd. currently operates 587 stores under five different brands: Reitmans, the largest in the group, Penningtons, Addition Elle and two smaller chains. The firm was founded 94 years ago in Montreal, as one outlet. At its peak, it operated almost 1,000 stores, a complex task for Mr. Reitman and his brother, who ran the firm jointly for 48 years. The company closed 37 stores in the latest quarter, and Stephen Reitman says the firm has an aggressive e-commerce platform.
After earning a degree in economics at Dartmouth, Mr. Reitman returned to Montreal and took a law degree at McGill University. He practised law at the Montreal firm Johnston Heenan Blaikie . "At that time, I was doing my MBA, and I was about to go to New York to try my hand at some retail there. Jeremy called me and said, ‘I think if we’re going to do it, we had better start now,’ ” Mr. Reitman said.
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