Herschel Segal, Founder of DavidsTea and Le Château, Passes Away

Herschel Segal, the visionary founder of DavidsTea and the iconic fashion retail brand Le Château, has sadly passed away. DavidsTea is known for its online tea sales and presence in grocery and convenience stores across Canada and the United States, with 20 physical stores in Canada.

The Montreal-based company announced Segal’s death in a news release on Saturday, revealing that he passed away on Tuesday. Segal retired from DavidsTea’s board of directors in 2021, with his wife, Jane Silverstone, serving as the board’s president and his daughter, Sarah Segal, holding the positions of director, chief executive, and chief brand officer.

Le Château, which Segal launched in the late 1950s, became a beloved brand among young consumers and a fixture in shopping malls throughout the 1980s and 1990s until the emergence of competitors like H&M and Zara in the Canadian market. Unfortunately, Le Château faced financial difficulties and filed for creditor protection in 2020, leading to the liquidation of its stores.

In the news release, DavidsTea praised Segal for his visionary leadership, strong belief in customer relations, and advocacy for innovation, accessibility, and community spirit. Silverstone, Segal’s wife, expressed her commitment to upholding his legacy and continuing his vision for the company.

Despite Segal’s passing, Rainy Day Investments, his investment company and the largest shareholder of DavidsTea, intends to maintain its long-term ownership stake in the company. Segal’s impact on the retail industry and his dedication to his brands will continue to resonate within the businesses he built.