Barneys CEO Lee Takes Anti-Penney Approach to Turnaround: Retail

At a time when department stores are chopping themselves into mini-malls -- J.C. Penney Co. being the most prominent example -- Barneys is doing the opposite.

Chief Executive Officer Mark Lee’s vision for Barneys New York Inc. is art gallery meets luxury emporium -- airy spaces where $1,575 Proenza Schouler bags seem like precious artifacts. The Gucci alum wants to broaden Barneys’s appeal while respecting its heritage as the most exclusive and avant-garde of America’s stores. The closely held New York-based chain is making money again and had record sales last year, said Lee, who took over the job in 2010.