Victor Barnett

For the baseball player, see Vic Barnett.

Victor J. Barnett (born 1933) is a British-American businessman, former executive chairman of Burberry, and member of the Wolfson family.

Early life and education

Victor Jules Barnett was born in London, England, in 1933 to Esmond Barnett and Edith Wolfson Barnett. His father died young, leaving Barnett to be raised by his mother and her siblings, among them Sir Isaac Wolfson.^[1] Moving to New York City after World War II, Barnett graduated from the Horace Mann School and with a bachelor's degree in economics from the Wharton School of Business at the University of Pennsylvania.^[2]

Career

Barnett began his career managing what was then the fledgling American operation of Burberry, a subsidiary of his family's retail conglomerate Great Universal Stores (GUS). He joined Revlon, Inc. in 1961, serving as executive vice president under Charles Revson until 1976.^[3][4] Barnett then returned to help manage the family business, GUS, joining his cousins Leonard and David Wolfson on the group's board of directors and executive committee. As head of GUS in North America, Barnett led the acquisition and growth of credit agency Experian in 1996. He also became executive chairman of Burberry in 1997.^[5] At Burberry, Barnett led a reorganization of the company, hiring Rose Marie Bravo as chief executive, renegotiating deals with Burberry's Japanese licensees, acquiring their licensee in Spain, and driving major real estate purchases including its flagship stores on New Bond Street and East 57th Street. Over Barnett's tenure Burberry's operating profits more than quadrupled and the brand became recognized as a global luxury fashion house.^[6][7][8] The corporate turnaround and brand restoration is still widely studied through a case analysis created by Harvard Business School in 2003.^[9] The family took Burberry public in 2002, and demerged GUS into Home Retail Group and Experian in 2006.^[10] Following his retirement from GUS and Burberry, Barnett bought pharmaceutical company Shaklee with his younger son Roger and joined the board of Grey Global Group.^[11][12]

Personal life

Barnett is married to Helaine M. Barnett, a prominent legal aid attorney and former president of the Legal Services Corporation.^[2] They have two sons, Craig Edward and Roger Lawrence.^[13][14] Craig Barnett, an investment banker, was married to Jennifer Peck, a daughter of Barbara and Stephen M. Peck. They divorced. Roger Barnett, CEO of Shaklee, is married to Sloan Lindemann Barnett, a daughter of Frayda and George Lindemann. Barnett is a former president of Fifth Avenue Synagogue and an emeritus director of the Charles H. Revson Foundation.^[15]

See also

• Leonard Wolfson, Baron Wolfson, his cousin
• David Wolfson, Baron Wolfson of Sunningdale, his cousin

References

1. "Paid Notice: Deaths HYMAN, EDITH WOLFSON BARNETT". The New York Times. January 17, 1997.
2. "Victor J. Barnett Marries Helaine Phyllis Meresman". The New York Times. June 29, 1959.
3. "Revlon, Inc., Promotes Aide to Vice President". The New York Times. February 15, 1966.
4. Bender, Marylin (May 30, 1976). "Revlon Puts on a New Face". The New York Times.
5. "Experian Acquired by British Conglomerate". Los Angeles Times. November 15, 1996.
6. Staff, W. W. D. (July 26, 2001). "Article July 26, 2001".
7. Staff, W. W. D. (January 16, 2001). "Article January 16, 2001".
8. "Dressing Up An Old Brand Burberry's first designer collection has fashion editors calling it the next Gucci. Given the company's sinking numbers, analysts are suspicious. Is there enough room in the shaky world economy for another luxury revival? - November 9, 1998". archive.fortune.com.
9. Moon, Youngme E.; Kussmann, Erika; Penick, Emma; Wojewoda, Susan; Herman, Kerry (October 1, 2003). "Burberry" – via www.hbs.edu. {{cite journal}}: Cite journal requires |journal= (help)
10. Davidson, Ros (March 28, 2006). "GUS to demerge Experian and Argos". The Guardian – via www.theguardian.com.
11. "Grey Names Barnett to Board". www.adweek.com.
12. "Company News; Japanese Drug Company to Sell 4 Units, Including Shaklee". The New York Times. April 3, 2004.
13. "Son to Mrs. Victor Barnett". The New York Times. July 22, 1962.
14. "Victor Barnetts Have Son". The New York Times. October 4, 1964.
15. "Paid Notice: Deaths MERESMAN, HARRY". The New York Times. March 5, 1999.