Marc Besen, the co-founder of clothing retail group Sussan, has died at the age of 99.
Born in 1923, he was a Holocaust survivor who fled Europe in World War II and arrived in Australia in 1947.
Together with his wife Eva and brother-in-law John Glandel, Besen began his entrepreneurial journey by taking over two lingerie shops established by Eva’s parents in 1939.
Over the years, these two shops evolved into the Sussan clothing retail group, which included popular brands like Sportsgirl, Sussan, and Suzanne Grae.
In 2003, he transferred control of the business to his daughter, Naomi Milgrom.
As the country’s second-oldest Rich Lister, the majority of Mr Besen’s wealth came from the sale of his Highpoint Shopping Centre in Melbourne’s western suburbs.
He sold a half-share to GPT for $621 million in 2006, then a further 25 per cent, also to GPT, for $680 million in 2017.
During an interview with BRW Magazine in 1994, Besen outlined his keys to success in the women’s fashion industry.
“To be successful in the fashion business, you must know who your customer is and what she wants,” he said.
“If you can put yourself in the customer’s shoes and offer her a product at or below the price point she expects to pay, she will respond.”
