By Rod Bacon
A haberdashery that has kept men looking their best for over 60 years has a new location.
J. Reid Menswear is now at 174 Glen Street in Glens Falls, two doors away from where they’ve served customers for the past five years.
“It’s important that I stay on Glen Street,” said owner Jeffrey Ives. “This store is a small business that specializes in serving the community.”
Ives purchased the multi-story building, formerly the local office of Albany-based Aeon Nexus Corporation, for $750,000. He worked with Leslie D’Angelico and Zane Smith at Arrow Financial Corporation on the small business loan. His real estate agent was Christine McKee of Hunt Real Estate ERA. Improvements were done by Argyle-based StraightUp Concrete & Renovations, owned by Jack Ash.
The menswear company was founded in 1965 by Seymour Segan as Jonathan Reid, named after his son. The store was first located in Queensbury’s Northway Plaza. In 1975, he opened a store in Saratoga Springs’ Pyramid Mall and later moved the original store to the Aviation Mall. Throughout the 1980s and ‘90s he expanded to 12 stores in New York, Vermont and Massachusetts. Segan retired in 1994 and turned the business over to his son, who downsized it to focus on the Glens Falls and Saratoga Springs markets.
“Within six months of starting work I knew I was going to buy it,” said Ives, who joined the company in 2000. “I didn’t know when and I didn’t know how, but I knew I was going to. So I started keeping a log of everything that worked and everything that didn’t. I did that for fifteen years so the day I bought it I was ready.”
First New York Federal Credit Union is pleased to announce the appointment of Vik Muktavaram as its next President and CEO.