It’s a new day for Barneys New York.
While the luxury retailer failed in its 11th-hour scramble to line up a buyer to take the business as a going concern, the name — and perhaps some of its stores — live on under the ownership of Jamie Salter’s Authentic Brands Group.
Drawing to an end a saga that at times had more plot twists than “Game of Thrones,” with a bit of “Fantasy Island” thrown in, ABG ended up the winning bidder, as had appeared likely a month ago, buying the bankrupt company for $271 million. It plans to immediately start to reimagine the business — bringing the name to Saks Fifth Avenue, looking at oversees opportunities and converting the famed — and expensive — Madison Avenue flagship into a new, much smaller, pop-up shop concept.
ABG also proclaimed a bold vision for Barneys, including potentially opening more stores in the U.S. and even overseas.
All of that could rankle Barneys diehards — but change has nonetheless come to the quirky brand and once it was official, the pieces started dropping into place quickly.
Chief executive officer Daniella Vitale notified the staff via e-mail Friday that she had left the company, apologizing for “the difficulties
While the luxury retailer failed in its 11th-hour scramble to line up a buyer to take the business as a going concern, the name — and perhaps some of its stores — live on under the ownership of Jamie Salter’s Authentic Brands Group.
Drawing to an end a saga that at times had more plot twists than “Game of Thrones,” with a bit of “Fantasy Island” thrown in, ABG ended up the winning bidder, as had appeared likely a month ago, buying the bankrupt company for $271 million. It plans to immediately start to reimagine the business — bringing the name to Saks Fifth Avenue, looking at oversees opportunities and converting the famed — and expensive — Madison Avenue flagship into a new, much smaller, pop-up shop concept.
ABG also proclaimed a bold vision for Barneys, including potentially opening more stores in the U.S. and even overseas.
All of that could rankle Barneys diehards — but change has nonetheless come to the quirky brand and once it was official, the pieces started dropping into place quickly.
Chief executive officer Daniella Vitale notified the staff via e-mail Friday that she had left the company, apologizing for “the difficulties