Franklin Simon
| Franklin Simon | |
|---|---|
| Born |
February 7, 1865 New York City, NY |
| Died | October 4, 1934 (aged 69) Purchase, NY |
| Known for | Franklin Simon & Co. |
| Partner(s) | Herman A. Flurscheim |
| Awards | Legion of Honor |
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Franklin Simon (February 7, 1865 – October 4, 1934), was the owner of Franklin Simon & Co., a department store in Manhattan, New York City. The store was founded in February 1902, when Simon partnered with Herman A. Flurscheim.
Born on New York City's Lower East Side in 1865 to Henri and Helene Simon, Franklin had three brothers and three sisters. Simon's father, Henri, was a cigar-maker and wood carver. His mother, Helene, was a seamstress. After his father's untimely death in 1878, Simon found work at a cash-boy at Stern Brothers, a dry goods store located at 32–36 West 23rd Street. One of the store's principals, Louis Stern, befriended young Simon, teaching him the "ropes" of dry goods.
By age 21, Simon was earning $5000 per year, a considerable sum at that time. In 1892, Simon married Frances Carroll, the daughter of a New York City Sheriff. The couple had four children: Franklin Simon Jr., who died July 3, 1902, Arthur J. Simon (1892–1968); Helene Simon (1895–?); and George D. Simon (1898–1944).
As his responsibilities at Stern Brothers increased, Simon was sent overseas to Paris as a buyer for the firm. It was during one of these business trips that Simon became acquainted with Herman A. Flurscheim, one of Stern Brothers' principal suppliers in France. The two became friends and soon made plans to go into business together, importing French fashions into the United States.
By 1902 Simon had saved approximately $100,000. In a daring move, Simon and Flurscheim purchased the home of Mrs. Orme Wilson, sister of John Jacob Astor IV, at 414 Fifth Avenue as the site of their new venture, Franklin Simon & Co., a store of "individual shoppes." At that time, Fifth Avenue was primarily a residential street, and Simon's merchant contemporaries derided his choice of location, speculating that the business would be a total failure.
Franklin Simon & Co. opened its doors for business in February, 1902. The venture lost $40,000 during its first year of operation and $28,000 during its second. However, by 1904 Fifth Avenue was coming into its own as a fashion center and the store turned a $16,000 profit. From that point forward, Franklin Simon & Co. remained one of the preeminent Fifth Avenue fashion outlets until its dissolution in the 1970s.
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