Yahoo Lifestyle George Feldenkreis, Chairman of Perry Ellis International, Dies at 89
Updated 4:53 p.m. ET Feb. 21
Perry Ellis International chairman George Feldenkreis, whose rags to riches story has become legendary in the menswear industry, died Thursday at Mount Sinai Hospital in Miami Beach. A cause of death was not disclosed. He was 89.
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Feldenkreis was born in Cuba in 1935 to Ukrainian Jewish immigrants, Elisa and Herman Feldenkreis. He started working at the age of 15 for a Zionist organization as a typist, tracking contributions and eventually studied at the University of Havana law school. He was unable to obtain his degree because the university was shut down, so he joined his father and brother in the family import business.
However, after Fidel Castro took control of Cuba, George Feldenkreis fled his home country in 1961, leaving his wife Dorita and young son Oscar behind until he was able to settle in Miami. They followed him to America the following year where his daughter Fanny was born.
In Miami, he first created Carfel, a leading supplier of automotive parts. Known today as GFX Inc., that company is now owned by Fanny, whose last name is Hanono.
In 1967, he and his brother started a uniform business in the U.S. called Supreme International. That company went public in 1993 and after purchasing the Perry Ellis brand in 1999, changed its name to Perry Ellis International.
Today, the Miami-based Perry Ellis International owns not only the Perry Ellis label, but also more than 30 brands including Original Penguin, Rafaella, Savane, Cubavera, Manhattan, Farah and Laundry by Shelli Segal. It also has a large licensing business that includes deals with Nike swimwear, Callaway, PGA Tour and Jack Nicklaus, and sales of nearly $1 billion.
Even so, the road to get to this point has not always been smooth.
At the end of September 2017, shortly after the company celebrated its 50th anniversary, Feldenkreis was forced out as executive chairman. He had led the company for more than a half century and served as chairman and chief executive officer from 1993 to 2015 when an activist investor, citing corporate governance, pushed for separation of the two positions. That led to Feldenkreis becoming executive chairman and his son, Oscar, who had worked for the company in some capacity nearly his whole adult life, being elevated from president to CEO.
But the elder Feldenkreis was not about to give up on the company he created and built, and started plotting his return.
He lined up financing from Fortress Investment Group and made the move to take the company private with an offer of $27.50 a share. He was advised by Scope Capital Partners, the merchant banking firm of Peter Comisar, the former vice chairman at Guggenheim Partners. Comisar worked with George Feldenkreis before as an adviser during the activist fight in 2015, and was instrumental in the introduction to Fortress, as well as the structure of the take-private transaction.
The corporation set up an independent special committee to evaluate the offer and seek other bidders to find a deal in the best interests of the shareholders. The special committee recommended a vote in favor of the deal, but shortly after, Randa Accessories presented a higher offer. After lots of back-and-forth, Randa ultimately walked away and Feldenkreis emerged victorious.
When the deal was finalized, Feldenkreis, who was 83 at the time, became chairman of the board and Oscar remained president and CEO. As he told WWD in the first interview following the acquisition: “If Oscar were not around, I would not have done this. But I know he’s going to be around to pay off the debt.”
Even at his advanced age, the elder Feldenkreis remained active in the business, visiting the PEI offices in Miami frequently until his death.
In addition to his business acumen, Feldenkreis was also known for his philanthropy.
He had been a member of the Greater Miami Jewish Federation’s board of directors for more than 40 years, and organized many fundraising activities involving South Florida’s Cuban Jewish community. He was the federation’s first Hispanic board member, and was honored with the organization’s “Friend of Israel Humanitarian Award” in 2016.
He was elected as a trustee of the University of Miami in 1995 and endowed the George Feldenkreis Program in Judaic Studies at the University. In 2015, the Rambam Health Care Campus in Haifa, Israel, bestowed the Rambam Award upon him in recognition of his business and philanthropic achievements.
In 2007, he was recognized as Man of the Year at the American Apparel & Footwear Association’s American Image Awards event and also received Yeshiva University’s A Perfect Fit Award in 2006, along with the Ernst & Young Florida Entrepreneur of the Year Award in Manufacturing in 1998.
“We were truly blessed to have to have him in our lives and are humbled to pay tribute and homage to our beloved father, patriarch and true icon,” said Oscar Feldenkreis and Fanny Hanono. “Siempre en nuestros corazones, as he will be forever in our hearts and minds. We proudly celebrate and memorialize his life and legacy.”
The company also put out a statement: “From his humble beginnings as a Cuban immigrant to his illustrious career, his entrepreneurial spirit and visionary leadership has enabled Perry Ellis International to successfully prosper over the past 58 years and his impact and inspiration on the fashion industry and his global associates and business partners worldwide is indelible.”
Industry veteran Michael Setola, president and CEO of Tharanco Lifestyles, which owns or manages Greg Norman Collection and Dunning Golf, said: “From my earliest days in menswear until today, George maintained an imposing presence in the landscape of our industry. Always focused and always a gentleman, his passion and tolerance for measured risk is to be admired. Rest in peace.”
“George touched so many lives in our industry, in the charitable causes he supported — Israel,
schools, his family — that it’s hard to envision how one man could impact so many lives. But George did. He will be missed by all those whose lives and organizations were enriched by George,” said Allan Ellinger, senior managing partner of investment banking firm MMG.
He is survived by his wife Marita, children Oscar and Fanny, 21 grandchildren and 15 great-grandchildren.
Services were held on Friday at noon at Temple Menorah in Miami Beach. In lieu of flowers, donations in George Feldenkreis’ name can be made to the Temple Menorah, Greater Miami Jewish Federation or Friends of Israel Defense Forces.
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