[2] His father founded Barneys, a clothing store that focused on selling name brand suits at a deep discount to the working class by purchasing inventory at auctions, bankruptcies, and in odd lots.

[1] In 1946, he joined the family business where he excelled at finding quality goods that he could purchase for a discount and sell using innovative marketing.

[1] In the late 1950s, he became chairman of the company and slowly transitioned it from a discount retailer and instead replaced the inventory with top-name designers from Europe that were relatively unknown in the United States.

[8][9] Pressman died on July 14, 1996, at his home in Harrison, New York, at the age of 73 of pancreatic cancer.

[10] The Fred Pressman Summer Youth Program invites high school students to intern and attend seminars in business etiquette, customer service, resume writing, and interviewing.