| 23 Aug 2010 |
|
Barneys appoints new CEO
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New York, 23 August 2010: Barneys New York ("Barneys" or "the Company"), the luxury retailer, with the support of its shareholder Istithmar WorldIstithmar World
, today announces the appointment of Mark Lee to the Company as Chief Executive Officer ("CEO"), effective September 1, 2010.Formerly global President and CEO of the Gucci brand from 2004 through 2008, Mr. Lee has over 25 years experience in the luxury brand and retail industry. Mr. Lee joined Gucci in 1996 and served from 1997 to 1999 as the senior most global merchandising executive prior to being named CEO of Yves Saint Laurent. Under his leadership Gucci achieved significant brand and financial success including being named in 2008 as the Most Coveted Luxury Brand in the world by a Nielsen company survey.
Mr. Lee began his career at Saks Fifth Avenue in 1984 and subsequently served in senior executive positions at the Giorgio Armani and Jil Sander brands.
Commenting on the appointment, Andy Watson, Chairman of Barneys and acting CEO of Istithmar WorldIstithmar World, said:"We are delighted to welcome Mark Lee to the business and look forward to supporting him as he takes the business forward, capitalising on his wealth of experience in the retail industry. The appointment marks an exciting new era for Barneys as we look to build the brand and maximise its existing strong platform for growth. We continue to believe that Barneys is a great business that is well positioned to make the most of market opportunities.
Barneys was assisted in the search process by Herbert Mines Associates, a New York based executive search firm.
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For media enquiries, please contact:
Barneys New York Amy Rosenberg,
Burson-Marsteller
+1 212 614 4558
Istithmar:
John Hobday,
FD Dubai
+971(0)504 648706
Georgina Turner,
FD London
+44(0) 207 269 7136
© Press Release 2010
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