Fred Pressman

Pressman was born in New York City, the son of Barbara and Barney Pressman.[2] His father founded Barneys, a clothing store that focused on selling name brand suits at a deep discount to the working class by purchasing inventory at auctions, bankruptcies, and in odd lots.[2][3][4][5] He attended Rutgers University before enlisting in the US Army.[1] In 1946, he joined the family business where he excelled at finding quality goods that he could purchase for a discount and sell using innovative marketing.[1]

In the late 1950s, he became chairman of the company and slowly transitioned it from a discount retailer and instead replaced the inventory with top-name designers from Europe that were relatively unknown in the United States.[1] He also added women's clothing, housewares, cosmetics and gifts.[1] He was credited with introducing Giorgio Armani to the American market in 1976 as well as one of the first American retailers to sell Hubert de Givenchy and Pierre Cardin products.[1]

In the 1970s, his sons, Gene and Bob, joined the business.[1] In the late 1980s, Barneys entered into a partnership with the Japanese retailer Isetan to expand the Barneys name internationally.[1] In January 1996, Barneys filed for bankruptcy protection after a dispute with its Japanese lender.[6]

Barneys New York flagship store

Pressman was married to Phyllis Pressman; they had four children:[1] Bob Pressman, Gene Pressman, Elizabeth Pressman-Neubardt,[7] and Nancy Pressman-Dressler.[6][1] His niece, Louise Sunshine, is the co-founder of the real estate marketing and sales company Sunshine Group.[8][9]

Pressman died on July 14, 1996 at his home in Harrison, New York at the age of 73 of pancreatic cancer.[1] Services were held at the Central Synagogue in Manhattan.[10]

The Fred Pressman Summer Youth Program invites high school students to intern and attend seminars in business etiquette, customer service, resume writing, and interviewing.[11]