Rowland Schaefer

Schaefer, Rowland, philanthropist, entrepreneur and pioneer in fashion accessory retailing passed away peacefully in his sleep on Wednesday, May 29th in Florida. He was 96 years old and had been a resident of Florida for over 55 years. Rowland Schaefer was a nimble entrepreneurial innovator, using various businesses he founded as stepping stones to the development of other businesses, culminating in developing Claire's Stores, Inc. into a world-wide fashion accessory powerhouse. Born in Chicago, IL on June 18, 1916, Mr. Schaefer left school at an early age to support his family during the Great Depression of the 1930's. His early business ventures included selling vacuum cleaners and vending machines as well as gold and oil exploration in the western United States. In the 1960's, noting the rising popularity of wigs, Mr. Schaefer launched Fashion Tress Wigs, becoming the world's largest importer/exporter of synthetic and human hair wigs. He was an early proponent of global sourcing and vertical integration, purchasing raw materials and contracting labor from abroad, overseeing manufacturing and importation to the United States. Eventually, Mr. Schaefer purchased his primary distributor, and as a result acquired 500 leased wig department counters located within leading department stores. Part of that acquisition contained a small chain of wig and millinery stores located in enclosed malls in the Midwest called Claire's Boutiques. Fashion Tress went public in over-the-counter trading in 1961. In 1973, the company was renamed FT Industries to reflect its expanding businesses which included at that time the licensed manufacture of Pierre Cardin handbags and luggage. As wigs began to fall from fashion, Mr. Schaefer sold off the now vertically integrated wig business keeping the small retail chain, Claire's Boutiques, which had transitioned from sales of wigs and hats to sales of jewelry and accessories. In the early 1980's, Mr. Schaefer altered his business strategy, having divested the company of the handbag and luggage manufacturing business to focus on developing the retail stores. At that time, the company name was changed to Claire's Stores, Inc. again, to reflect this new focus. He raised money in a secondary IPO and began to aggressively roll out stores in enclosed shopping malls across the United States. By November 1990, the number of stores had increased from 40 to approximately 1,000. In 1994, recognizing the untapped potential of the affluent teen market and teens' insatiable love of shopping, Mr. Schaefer repositioned the stores to reflect this new vision. Today, there are over 3,000 stores located throughout North America, the UK, Europe, Japan, Russia, Poland, the Middle East and South Africa. Claire's Stores had been a NYSE listed company traded under the symbol CLE, with sales that exceeded $1 billion a year and a market capitalization of $2.5 billion. In November, 2002 he had a stroke and stepped down from the day to day running of the business. His daughters, Marla and Bonnie Schaefer, took over as co-CEO's eventually selling the business to a private equity firm in 2007. Rowland Schaefer was an active philanthropist, involved in numerous charitable and community organizations in the United States and Israel. In 1986, Mr. Schaefer provided funding for the Rowland and Sylvia Schaefer Solar Research Complex at the Weizmann Institute of Science in Rehovet, Israel, to further basic research into the accumulation, conversion and transportation of solar energy in order to reduce dependence on oil reserves. In 1995, funds donated by the Schaefers financed the Rowland and Sylvia Schaefer Building at the Diabetes Research Institute at the University of Miami. In 2003, he made a gift of $10 million to the Simon Wiesenthal Center of Human Dignity - Museum of Tolerance, which is to be built in Jerusalem. Other organizations in which Rowland Schaefer played a significant role include the Anti-Defamation League, the Miami Jewish Home and Hospital for the Aged, the Concert Association of Florida, and the Wien Center for Alzheimer's Disease and Memory Disorders at the Mount Sinai Medical Center where he was a Founder. Rowland Schaefer was a recipient of various awards and honorary degrees during his lifetime. Included among those are: An Honorary Doctorate from the Weizmann Institute of Science (1994); a National Community Service Award from the Simon Wiesenthal Center (1999); the Nova Southeastern University Entrepreneur Hall of Fame Award (1999); the Friars Foundation Lifetime Achievement Award (2000); the Ernst & Young 2002 National Entrepreneur of the Year Award; the Ernst & Young Florida Entrepreneur of the Year-Consumer Products and Services Award (2002); the Simon Wiesenthal Center Humanitarian Award (2003); and the Joseph Wharton Business Statesman Award/The Wharton School Club of South Florida (2004). Mr. Schaefer is survived by his three daughters: Marla (Steve), Bonnie (Jamie) and Roberta (Bruce). He is also survived by eight grandchildren and five great grandchildren. Mr. Schaefer was predeceased by his beloved wife Sylvia, daughter Diane and son Ronald. In lieu of flowers, the Schaefer family requests that donations be made to the Wien Center for Alzheimer's Disease and Memory Disorders at Mount Sinai Medical Center, the Simon Wiesenthal Center, the American Council for the Weizmann Institute of Science or the Anti-Defamation League. The funeral service will be held on Thursday, May 30th at 11:00 a.m. at Temple Beth El of Boca Raton, 333 Southwest 4th Avenue, Boca Raton, FL 33432 / (561) 391-8900. Interment will follow in the mausoleum at the Temple. After the services, a Meal of Consolation lunch will be held at Temple Beth El.