Herschel Segal, the founder of Davidstea and the fashionable retail brand Le Château, has died.
Davidstea sells online tea, as well as in supermarkets and convenience stores in Canada and the United States. The company also has 20 stores throughout Canada.
The Montreal headquarters announced Segal’s death in a press release on Saturday. He says he died on Tuesday.
Segal retired from Davidstea’s Board of Directors in 2021. His wife, Jane Silverstone, is the president of the Board and her daughter, Sarah Segal, appears on the company’s website as director, as well as executive director and brand director.
Herschel launched Le Château in the late 1950s. The clothing brand was a great success with young consumers and a basic element in shopping centers in the eighties and nineties, before companies such as H&M and Zara enter the Canadian market.
Le Château submitted a request to protect creditors in 2020 and its stores were finally settled.
Davidstea’s Saturday press release stands out how Segal “always led his companies with vision, determination and a strong belief in the importance of customer relations.”
The company describes it as a firm defender of innovation, accessibility and community spirit.
“Herschel’s legacy lives through Davidstea and I am committed to continuing his vision,” said Silverstone, his wife, in the press release.
The rainy day investments, Segal’s investment company and the largest shareholder of Davidstea, plans to continue being a long -term shareholder, reads in the press release.
