Barneys Of New York Bloody Window Display Yanked Due To Outrage - Page 3
According to Answer's.com:
There were tales about how the Pressmans--eight of them on the company payroll--helped themselves to store merchandise without accounting for it, according to the New York Times article "Haughty Couture" and Joshua Levine's "Let Them Wear Black."
Hmmm, sounds like the Pressmans were helping themselves to whatever they fancied and it blew up in their face BIG time. There is more detailed information available at Answers.com if you are interested. Their financial history is way too lengthy to list here.
So does Barney Pressman or the Pressman family still own Barneys? No, they haven't owned it since 2004. With the Pressmans plagued with financial problems, the Pressman family sold its less than 2% remaining ownership to the Jones Apparel Group, they in turn sold it to the top bidder who is a private equity firm in Dubai called Istithmar PJSC for $937.4 million. A long way from the original story of Barney Pressman's original $500 investment back in 1923, wouldn't you say?
For now, Barneys with it's bright red awnings will remain a place to shop for a pair of Manolo Blahniks, from housewares to luggage and everything in between. With annual sales of way over $300 million, employing over 1,700 employees, my guess is if people were outraged by their display, ultimately, they must cater to the whims and needs of its customers. Especially in this economy, one has to be careful. I think they are done taking chances with edgy bloody window displays and will leave the horror to the local costume shops for Halloween.
Pity though. I think the display was kind of neat and it certainly got people's attention, and isn't that what it's all about in the retail world? I mean with all the competition out there, to keep coming up with new display ideas with a sense of "gotcha" for your customers must be tough these days. Barneys original slogan..."No Bunk, No Junk, No Imitations"... may have worked fine for them back in the 1930's, but to push $1,600 Armani suits these days, stores have to be creative and take some chances — but the chance that Barneys took this time around met up with the same demise as Barneys mannequins, DOA.
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