Wednesday, 25 August 2010

Barney's Welcomes New CEO Mark Lee - 25/08/10

Luxury department store Barney’s, are welcoming a new and treasured member to their team this week, with Mark Lee stepping up to CEO. The company have been on the hunt for the perfect candidate for two years, and Lee’s prestigious and accomplished background at Gucci makes him ideal for the job at hand.

After leaving Gucci, Lee kept a low profile, which had us questioning just where he was. But the new fit between Barney’s and Lee seems like the perfect match, with Lee stating of the new move “I am confident that together with the strong Barneys team we can take the company to even greater prominence.”

Whilst his confidence levels are high, Lee has a difficult task ahead of him, with Standard & Poor’s stating of the current environment of Barneys “although performance has improved recently, we remain concerned that New York-based Barneys New York Inc.'s capital structure is unsustainable”. S&P analyst David Kuntz, also reaffirmed that having Lee in this powerful position is without doubt better than having no one, but also added that for the company to rectify its current economic position “it doesn't move the needle very much.” We will wait and see…

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Melinda O’Rourke is the founder and Director of MO Luxury, a dynamic, Sydney-based management firm specialising in luxury brands and services. Melinda and her associates at MO work with local and international brands across prestige retail, fashion, fine jewellery, timepieces and specialised services. Melinda is well-connected, well-read, and well-versed in the demands of the luxury market and its client base. Her advice is firmly based in objectivity and ultimately, accountability. Melinda offers constructive counsel and both strategic and creative thinking and is able to draw upon a strong network of specialised talent to compliment the MO Luxury team as needed. Melinda enjoys excellent industry relationships and is regularly quoted in the business and fashion media. Read more about MO Luxury,