Charles Veysey, who reigned in an era when department stores were the kings of retail, died April 19, the New York Times reports. Veysey, who earned his Harvard M.B.A. in 1939, served as president of FAO Schwartz and later Frederick Atkins, a firm that handled the marketing and merchandising for dozens of major department stores.
Frederick Atkins shut its doors in 2000, and FAO Schwartz filed for bankruptcy in 2003.
As Vessey watched and worked, "off-price" shopping became a major phenomenon. Chains like TJ Maxx opened in the late-1970s, posing a major threat to traditional department stores. Vessey, who served as a consultant for the National Retail Merchants Association after his retirement in 1982, helped to guide the industry through these changes.
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