Case Study: Brooks Brothers on the Cutting Edge

Where Gorsart was unable to change with the times, another great New York men’s clothier, Barney’s, changed too much—only to be taken over by its creditors in 1996. Founded in 1923 by Barney Pressman, who hocked his wife’s engagement ring to pay for the lease and fixtures, Barney’s found its way into the hands of two of Pressman’s grandsons. As Larry Light wrote in Business Week,