Herschel Segal, the founder of DavidsTea and the fashion retail brand Le Château, has died.
DavidsTea sells tea online as well as in grocery stores and convenience stores in Canada and the United States. The company also has 20 stores across Canada.
The Montreal-based company announced Segal’s death in a news release on Saturday. It says he died on Tuesday.
Segal retired from DavidsTea’s board of directors in 2021. His wife, Jane Silverstone, is the board’s president and his daughter, Sarah Segal, is listed on the company’s website as its director as well as chief executive and chief brand officer.
Herschel launched Le Château in the late 1950s. The clothing brand was a major success with young consumers and a staple in shopping malls in the 1980s and 1990s, before companies like H&M and Zara entered the Canadian market.
Le Château filed a request for creditor protection in 2020 and its stores were ultimately liquidated.
Saturday’s news release from DavidsTea highlights how Segal “always led his companies with vision, determination and a strong belief in the importance of customer relations.”
The company describes him as a strong advocate for innovation, accessibility and community spirit.
“Herschel’s legacy lives on through DavidsTea and I am committed to continuing his vision,” said Silverstone, his wife, in the news release.
Rainy Day Investments, Segal’s investment company and the largest shareholder of DavidsTea, plans to remain a shareholder in the long term, the news release reads.
