Victor Kiam
Encyclopedia
Victor K. Kiam was an American
entrepreneur and the owner of the New England Patriots
football team from 1988
-1991
.
After attending Yale
, the Sorbonne
and Harvard Business School
, Kiam became part of the Lever Brothers
and Playtex
company as a salesperson. He first made his fortune as the President and CEO of Remington Products
, which he famously purchased after his wife bought him his first electric shaver. In 1994, Victor Kiam sold a controlling interest
in Remington Products to Isaac Perlmutter
. Kiam also operated two other companies: Ronson and TravelSmart. Kiam also bought the Benrus Watch Company in 1967, which filed bankruptcy in 1977.
He became famous as the spokesperson for the Remington shaver. Kiam's famous catch-phrase, "I liked the shaver so much, I bought the company." made him a household name; the phrase "Doing a Victor Kiam" has now become a term for a customer who becomes the owner of a company. He recorded each advert in the native language for the country in which it was broadcast.
In 1988, Kiam bought the NFL
's New England Patriots
for $84 million from founder Billy Sullivan
. Unfortunately, the sale did not include Foxboro Stadium
, which Sullivan lost in a bankruptcy sale to Robert Kraft
, and Kiam lost money on the deal. In 1990, a female reporter sued Kiam and the Patriots when Zeke Mowatt
allegedly exposed himself and made lewd comments to her in the team change room. The case was reportedly settled for approximately $250,000 and three players were fined. The incident stirred debate over female reporters in the locker room. In 1992 Kiam sold his 51% interest in the Patriots to St. Louis, Missouri-based businessman James Orthwein
, to whom Kiam was in considerable debt. (Orthwein would eventually sell his controlling stake in the Patriots to Kraft after an aborted attempt to move the Patriots to St. Louis.)
Kiam resided in Stamford
, Connecticut
at the time of his death.
Upon Kiam's death The Times
quoted one of his closest business associates in later years, Jonathon Lyons
, as saying that he was "a truly remarkable entrepreneur of the old kind - the kind they simply don't make any more."
Kiam wrote the following books about business and entrepreneurship:
Kiam was survived by his wife, Ellen, and three children, Lisa Durkin, Victor "Tory" Kiam III, and Robin Kiam Aviv, and seven grandchildren, Jenny, Alexander, Sophia, Lia, Caleigh, Nikki, and Blake. His son has taken over Lady Remington and has changed the name and expanded it by huge percentages. It is now called Lia Sophia, named after his two daughters to reflect the importance of family in the company.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
entrepreneur and the owner of the New England Patriots
New England Patriots
The New England Patriots, commonly called the "Pats", are a professional football team based in the Greater Boston area, playing their home games in the town of Foxborough, Massachusetts at Gillette Stadium. The team is part of the East Division of the American Football Conference in the National...
football team from 1988
1988 New England Patriots season
The New England Patriots finished the National Football League's 1988 season with a record of nine wins and seven losses, and finished tied for second in the AFC East division.-Staff:-Schedule:-Roster:...
-1991
1991 New England Patriots season
The New England Patriots finished the National Football League's 1991 season with a record of six wins and ten losses, and finished fourth in the AFC East division.-Staff:-Schedule:-Roster:...
.
After attending Yale
YALE
RapidMiner, formerly YALE , is an environment for machine learning, data mining, text mining, predictive analytics, and business analytics. It is used for research, education, training, rapid prototyping, application development, and industrial applications...
, the Sorbonne
Sorbonne
The Sorbonne is an edifice of the Latin Quarter, in Paris, France, which has been the historical house of the former University of Paris...
and Harvard Business School
Harvard Business School
Harvard Business School is the graduate business school of Harvard University in Boston, Massachusetts, United States and is widely recognized as one of the top business schools in the world. The school offers the world's largest full-time MBA program, doctoral programs, and many executive...
, Kiam became part of the Lever Brothers
Lever Brothers
Lever Brothers was a British manufacturer founded in 1885 by William Hesketh Lever and his brother, James Darcy Lever . The brothers had invested in and promoted a new soap making process invented by chemist William Hough Watson, it was a huge success...
and Playtex
Playtex
Playtex and PlayTex are a brand and trademark. It used to be associated with bras and women's undergarments. Currently there are two separate companies with the Playtex name....
company as a salesperson. He first made his fortune as the President and CEO of Remington Products
Remington Products
Remington Products, commonly known as simply Remington, is a worldwide personal care corporation which manufactures razors , epilators, and haircare products for both men and women. It is a subsidiary of Spectrum Brands.-History:...
, which he famously purchased after his wife bought him his first electric shaver. In 1994, Victor Kiam sold a controlling interest
Controlling interest
Controlling interest in a corporation means to have control of a large enough block of voting stock shares in a company such that no one stock holder or coalition of stock holders can successfully oppose a motion...
in Remington Products to Isaac Perlmutter
Isaac Perlmutter
Isaac "Ike" Perlmutter is an American businessman and financier. He has been the Chief Executive Officer of Marvel Entertainment since January 1, 2005. He was also the owner of Remington Products and Toy Biz.-Background:...
. Kiam also operated two other companies: Ronson and TravelSmart. Kiam also bought the Benrus Watch Company in 1967, which filed bankruptcy in 1977.
He became famous as the spokesperson for the Remington shaver. Kiam's famous catch-phrase, "I liked the shaver so much, I bought the company." made him a household name; the phrase "Doing a Victor Kiam" has now become a term for a customer who becomes the owner of a company. He recorded each advert in the native language for the country in which it was broadcast.
In 1988, Kiam bought the NFL
National Football League
The National Football League is the highest level of professional American football in the United States, and is considered the top professional American football league in the world. It was formed by eleven teams in 1920 as the American Professional Football Association, with the league changing...
's New England Patriots
New England Patriots
The New England Patriots, commonly called the "Pats", are a professional football team based in the Greater Boston area, playing their home games in the town of Foxborough, Massachusetts at Gillette Stadium. The team is part of the East Division of the American Football Conference in the National...
for $84 million from founder Billy Sullivan
Billy Sullivan (American football)
William Hallissey "Billy" Sullivan, Jr. was an American businessman who owned the Boston Patriots franchise from their inception in the American Football League until their sale, as the New England Patriots of the NFL, to Victor Kiam in 1988.-Early life:Sullivan was born in Lowell, Massachusetts...
. Unfortunately, the sale did not include Foxboro Stadium
Foxboro Stadium
Foxboro Stadium was an outdoor stadium, located in Foxborough, Massachusetts...
, which Sullivan lost in a bankruptcy sale to Robert Kraft
Robert Kraft
Robert K. Kraft is an American business magnate. He is the Chairman and was the Chief Executive Officer of The Kraft Group, a diversified holding company with assets in paper and packaging, sports and entertainment, real estate development and a private equity portfolio...
, and Kiam lost money on the deal. In 1990, a female reporter sued Kiam and the Patriots when Zeke Mowatt
Zeke Mowatt
Ezekiel Mowatt is a former American football tight end in the National Football League who played for the New York Giants and the New England Patriots. He played college football at Florida State University...
allegedly exposed himself and made lewd comments to her in the team change room. The case was reportedly settled for approximately $250,000 and three players were fined. The incident stirred debate over female reporters in the locker room. In 1992 Kiam sold his 51% interest in the Patriots to St. Louis, Missouri-based businessman James Orthwein
James Orthwein
James Busch Orthwein was an American advertising executive and great-grandson of Anheuser-Busch founder Adolphus Busch. Orthwein owned the New England Patriots from 1992-1993.-Life and career:...
, to whom Kiam was in considerable debt. (Orthwein would eventually sell his controlling stake in the Patriots to Kraft after an aborted attempt to move the Patriots to St. Louis.)
Kiam resided in Stamford
Stamford
-Places:In the United Kingdom:*Stamford, Lincolnshire, a town in England*Stamford Hill, London*Stamford Bridge, East Riding of Yorkshire**Battle of Stamford Bridge*Stamford Bridge , the home ground for Chelsea Football Club...
, Connecticut
Connecticut
Connecticut is a state in the New England region of the northeastern United States. It is bordered by Rhode Island to the east, Massachusetts to the north, and the state of New York to the west and the south .Connecticut is named for the Connecticut River, the major U.S. river that approximately...
at the time of his death.
Upon Kiam's death The Times
The Times
The Times is a British daily national newspaper, first published in London in 1785 under the title The Daily Universal Register . The Times and its sister paper The Sunday Times are published by Times Newspapers Limited, a subsidiary since 1981 of News International...
quoted one of his closest business associates in later years, Jonathon Lyons
Jonathon Lyons
Jonathon Edward Lyons is a British born businessman and is the owner and chairman of JE London Properties. He was born in Leeds and is the youngest son of the financier Isidore Jack Lyons, a former director of the UDS Group. Jonathon Lyons made his fortune in the property and venture capital...
, as saying that he was "a truly remarkable entrepreneur of the old kind - the kind they simply don't make any more."
Kiam wrote the following books about business and entrepreneurship:
- Going for It!: How to Succeed As an Entrepreneur
- Keep going for it!: living the life of an entrepreneur
- Live to Win: Achieving Success in Life and Business
Kiam was survived by his wife, Ellen, and three children, Lisa Durkin, Victor "Tory" Kiam III, and Robin Kiam Aviv, and seven grandchildren, Jenny, Alexander, Sophia, Lia, Caleigh, Nikki, and Blake. His son has taken over Lady Remington and has changed the name and expanded it by huge percentages. It is now called Lia Sophia, named after his two daughters to reflect the importance of family in the company.