Businnes Biography- Barneys

553 Words3 Pages
Today Barneys holds three standards above all others; Luxury, taste, and Humor. But it has not always been the upscale market Mecca that it is today. Barneys has come a long way from their humble beginnings as a small menswear retailer to a standard in a discerning industry. Barney pressman started the dream in 1923with 500 square feet of retail space and five hundred dollars from the pawning of his wife’s engagement ring. Pressman stocked the store with 40 designer suits, mostly samples and overstocks, and offered his customers prices far less than list. In a testing industry Barney knew how to publicize his wares as well as fill his store. He claimed to be the first Manhattan retailer to use radio and television to peddle his goods. Barney's began carrying women's clothing for the first time in 1976 with fashions from more than 20 houses represented. Fred's son Gene, who was responsible for the plunge into women's wear, moved the women's area to a new top-level enclosure called The Penthouse the following year. Barney's also added house wares, cosmetics, and gifts to its inventory during this period, turning them into a formidable retail competitor in the Manhattan market. Barneys has held its own against their main competitors Bloomingdales and Saks, by maintaining a steady vision and carrying signature pieces not available outside their walls. In the years following Barneys expanded their reach both nationally and internationally, opening stores in Dallas, Beverly Hills, and Japan, making them the largest American retail establishment to set up shop in Asia. Upon the completion of the Barneys Manhattan flagship store in 1993, the store became the largest retail venture since the great depression. To say the least, the company has come a long way from the 500 square foot shop on Seventh Avenue. It is inevitable in retail that loss and pitfall will occur,

More about Businnes Biography- Barneys

Open Document