It took three generations to build Barneys into the world's most fabulous clothing store--and less than a decade to tear it down. This fascinating book is at once a family saga, a cautionary business tale, and a riveting, superbly detailed behind-the-scenes account of how a secondhand store founded on pluck and chutzpah grew into a glittering international retail empire, only to founder on greed and hubris.
It is a tragicomedy of truly Greek proportions, featuring a full cast of larger-than-life heroes and villains and fools, spun in dramatic, novelistic style, and written in evocative prose by a distinguished editor at Forbes. Patriarch Barney Pressman started small in 1923, but within two decades he was selling more suits than anyone in the world. By the time his son, Fred, took over in the 1960s, Barneys was a thriving institution, and Boys Town at Barneys was the site of every New York boy's clothing rite of passage. But Fred had loftier ambitions; he was never comfortable with the crass discounter image. He staked the family fortune on European fabrics and design, wound up transforming the entire world of men's fashion, and made a killing along the way.
But it was Fred's sons, Gene and Bob, who really wanted it all--not just a store but a grandiose temple of ultimate chic. Instead, through extravagance, flamboyance, greed, and an arrogant disregard for sound business principles, they raced heedlessly into one of the most spectacular business flameouts in retail history.
A tasty mix of high fashion, high finance, and overweening family ambition, The Rise and Fall of the House of Barneys is a book every bit as stylish and well tailored as any suit the Pressman dynasty ever sold.
This is a rags to riches to rags story.
I can't recommend this book enough if you enjoy shopping or business books. I continue to shop occasionally at NY and Beverly Hills. You can't go into the stores without better appreciating the history of the store. BUY THIS BOOK.How the third generation Pressmans blew their fortune. This is a typical story of a rich family running the family business into the ground. Barney and Fred Pressman spent their entire lives building up their suit store. They spent all their hours nurturing this business and they turn it over to their two sons and two daughters. The grand children have grand plans of expanding the store nationwide along with opening a megastore on Madison Avenue. Cost overruns, and the market result in doing in the business. They took a Japanese outfit along for the ride causing them to lose several hundred million dollars. Levine does a good job of detailing the rise and fall of this retail empire. Barneys did a lot for mens fashions. However arrogant and greedy grandchildren caused the fall of this store. Family owned businesses should read this story for the caution it may give to family members.
