The History Of Barneys New York

Barneys New York was created in 1923 from the owner Barney Pressman. He started this company with only $500, which he got from pawning his wife's engagement ring. With this money, he was able to lease a 45 square space shop located on Seventh Avenue in Manhattan. Barney Pressman was known for selling men clothes at a discounted price. As the years passed, Pressman realized there were changes to be made. In 1958, Fred Pressman (Barney’s Son) decided to turn the family’s discount store into a specialty retailer. Where he later introduced women’s clothing to the department store in 1986.
At this point, Barneys started to fill its racks with the finest quality garments: ranging from designer jeans to tailor made suits. The demand for more space eventually lead it to expand to a bit over a mere 9,300 square meters, occupying the whole block. …show more content…
He was forced to close down eight of its stores and change the store name to Barneys New York Inc because of the financial crisis. Today, Barneys New York is currently owned by Mark Lee and operates flagship stores in New York City, Beverly Hills, Chicago, Seattle, Boston, San Francisco, Las Vegas, Los Angeles and Scottsdale along with a preeminent luxury online store,