Barneys names new CEO

New York, NY — Barneys New York, the luxury retailer, with the support of its shareholder Istithmar World, today announced the appointment of Mark Lee as chief executive officer, effective September 1, 2010.

The company has been operating without a chief executive since Howard Socol retired in June 2008. In the interim, the chain, which currently has more than 40 locations has been run by a team of top executives, including Vince Phelan, chief financial officer, and Michael Celestino, executive vice president of store operations.

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.

In a statement, Mr. Lee said that he was honored to be joining the company. “Barneys is a unique landmark retailer, store and brand, one that is synonymous with luxury and style and I am confident that together with the strong Barneys team we can take the company to even greater prominence,” he added.