Founder and Chairman of Lee's Fifth Avenue, Elias Issa.
December 19, 2015
My Kingston – Elias ‘Lee’ Issa
Founder and Chairman, Lee’s Fifth Avenue
Share with us your earliest memories of Kingston.
Going to Myrtle Bank Hotel in downtown Kingston, which was the landmark hotel back in the ’40s. Swimming in a mineral pool at the edge of the harbour at the Myrtle Bank Hotel which was filled with water flowing from a spring in Liguanea; having lunch in one of the summer houses, or on the lawn, when downtown Kingston was the place to be.
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What is your favourite travel destination?
My wife loves to tell people that we’ll go any place as long as it’s in Negril, and I would agree!
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What inspired the desire to create what is now one of the largest retail chains on the island?
When I came back from university — the College of the Holy Cross in Massachusetts — my father was in the retail and clothing business, and I thought I’d follow in his footsteps. We had a store on King Street called Issa’s Retail, where I worked for a couple of years until I went out on my own. Prior to that I spent six months in New York working at what was then the largest department store in the United States, Macy’s in Herald Square, and that was an inspiration to come back to Jamaica to open up the first modern department store. Lee’s Fifth Avenue opened in 1965.
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Tell us about a few of those early challenges.
First of all, you had to establish credibility in order to get credit from your suppliers. It was a bit of a struggle at first, because I had to build a brand from the ground up, and the concept of shopping uptown was still very new, because people went downtown to King Street and Harbour Street to do their shopping. It took a little time, but eventually, my track record enabled me to get credit from most of my suppliers.
And what are today’s challenges?
The retail business is very competitive, but we’re doing well in spite of that, because we carry a lot of exclusive lines, and with the widest variety. We also have a very good buying team, and have been doing some restructuring; my son Alex is now the CEO. So we’ve managed to continue to do well, despite the current economic climate. Indeed, we’re having our best year yet.
Lee’s Fifth Avenue recently celebrated its 50th anniversary. What were your thoughts as you stood in the retail space listening to the accolades?
It’s been a wonderful journey. It’s hard to believe that 50 years have gone by and we’re still around. I think the fashion show was a huge success; we had a terrific turnout, and there was a real sense of satisfaction that we were able to hit that 50-year mark, and we’re looking forward to the next 50!
What would you say is your recipe for success?
You’ve got to be passionate about your business if you hope to be successful. Retail is in my blood; it’s my first love. Now I’m also very involved in the hotel business, but you never forget your first love. If you’re passionate about retail, and you’re willing to put in the hours, and be on the floor, meeting your customers, and hearing what they’re saying about your merchandise, it will be the greatest asset to you, as far as helping you become a first-rate buyer, and in retail the profit is in the buying.
Were you to be given the opportunity to build a retail empire with three entrepreneurs (living or dead), who would they be and why?
I would have say Warren Buffet, Steve Jobs, and Richard Branson. They make things happen. I like their work ethic and positive attitude towards business. That’s what you need in retail: dedication, putting in the hours, and getting it done.
Which three women would you love to go shopping with and why?
Well, first of all, my wife, because she has great taste in clothing, though she’d probably end up buying a lot more than I would. Secondly, Meryl Streep, because she seems like she’d have a lot of patience. And finally, Glenn Close, because, well, she turns me on!
What ought every woman to purchase from Lee’s Fifth Avenue this Christmas?
I think that our line of casual, sportswear, and evening wear is the best I’ve seen in years.
What’s your favourite Christmas carol?
Hark! The Herald Angels Sing. I like that one; it gets me in the Christmas spirit of giving, of peace and love and goodwill to all men. It reminds us of Jesus Christ’s birth, and that he died for our sins.
Sorrel or Christmas pudding?
Definitely Christmas pudding.
Where do you see yourself in five years?
Well, I hope I’m still around, and doing something. Maybe not what I’m doing now, but rather enjoying the fruits of my labour a little bit more, in terms of spending time with family, friends, and travelling.
Finally, what is your philosophy?
Never give up. The glass is always half-full, never half-empty.
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