Barneys New York Inc. is an American

luxury Luxury may refer to: * Luxury goods, an economic good or service for which demand increases more than proportionally as income rises *Luxury tax, tax on products not considered essential, such as expensive cars **Luxury tax (sports), surcharge pu ...

brand founded in

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

in 1923. It has introduced major designers including

Armani Giorgio Armani S.p.A. (), commonly known as Armani, is an Italian luxury fashion house founded in Milan by Giorgio Armani which designs, manufactures, distributes and retails haute couture, ready-to-wear, leather goods, shoes, accessories, and ...

, Azzedine Alaïa,

Comme des Garçons Comme des Garçons (also known as CDG) is a Japanese fashion label based in Paris that was created and led by Rei Kawakubo. Its French flagship store is located in Paris. This label owns a world-wide store chain featuring various lines of pro ...

Christian Louboutin Christian Louboutin (; born 7 January 1963) is a French fashion designer whose high-end stiletto footwear incorporates shiny, red-lacquered soles that have become his signature. Initially a freelance designer for fashion houses, he started hi ...

, and

Ermenegildo Zegna Ermenegildo Zegna (; born 30 September 1955), often simply known and referred to as Gildo Zegna, is an Italian entrepreneur and manager. He is Chairman and CEO of Ermenegildo Zegna Group. Early life and education Gildo is a grandson of Ermeneg ...

to the US market. Barneys New York was sold in November 2019 to

Authentic Brands Group Authentic Brands Group LLC (ABG) is an American brand management company headquartered in New York City. Its holdings include various apparel, athletics, and entertainment brands, for which it partners with other companies to license and merchand ...

for $271.4 million. ''The New York Times'' reported that Authentic Brands Group's strategy is "essentially betting that the future of retail lies with abstract values." On Friday, January 15, 2021,

Saks Fifth Avenue Saks Fifth Avenue (originally Saks & Company; colloquially Saks) is an American luxury department store chain headquartered in New York City and founded by Andrew Saks. The original store opened in the F Street shopping district of Washington ...

unveiled a 54,000-square-foot space on the fifth floor of its flagship in New York, titled Barneys at Saks. The collaboration is aimed at continuing Barneys New York tradition of unearthing and promoting emerging designers. On Monday, January 25, 2021, Saks Fifth Avenue unveiled the first standalone Barneys at Saks store at a 14,000-square-foot location in

Greenwich, Connecticut Greenwich (, ) is a town in southwestern Fairfield County, Connecticut, United States. At the 2020 census, the town had a total population of 63,518. The largest town on Connecticut's Gold Coast, Greenwich is home to many hedge funds and other ...

Operations under Pressman family ownership

Early history

Barney Pressman Barney Pressman (December 14, 1894 – August 24, 1991) was an American businessman and founder of Barneys New York retail store. His first store was in a space with of frontage at Seventh Avenue and West 17th Street in

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

in 1923. He raised the $500 to pay the lease by pawning his wife's engagement ring. Barney's Clothes were stocked with 40 brand name suits and a big sign with a slogan, "No Bunk, No Junk, No Imitations". Barney's sold clothing at discounted prices by purchasing showroom samples, retail overstocks, and manufacturers' closeouts at auctions and bankruptcy sales. He also offered free alterations and free parking to attract customers. And this first of its kind store landed Barney Pressman on many TV and Radio shows. Pressman claimed to be the first Manhattan retailer to use radio and television, beginning with "Calling All Men to Barney's" radio spots in the 1930s that parodied the introduction of the Dick Tracy show. He sponsored radio programs featuring Irish tenors and bands playing jigs to advertise Irish

wool Wool is the textile fibre obtained from sheep and other mammals, especially goats, rabbits, and camelids. The term may also refer to inorganic materials, such as mineral wool and glass wool, that have properties similar to animal wool. ...

ens. Women encased in barrels gave away matchbooks with the store name and address. He also chartered a boat to take 2,000 of his customers from Manhattan to Coney Island. During the 1960s "Barney's son, Fred, helped transition from a discount store to a luxury retailer." In a 1973 interview with '' Business Week'',

Fred Pressman Fred Pressman (1923 – July 14, 1996) was the chairman of Barneys New York. He assumed the role after taking over from his father, Barney Pressman. Under Fred Pressman's leadership, the store changed from being a discount men's suit shop to a ...

, Barney Pressman's son, stated that he became "convinced that the discount route definitely was not for us. My father and I have always hated cheap goods ... I didn't want to sell low-end merchandise. Now, many of those who chose to are verging on bankruptcy." Fred Pressman's obituary in ''

The New York Times ''The New York Times'' (''the Times'', ''NYT'', or the Gray Lady) is a daily newspaper based in New York City with a worldwide readership reported in 2020 to comprise a declining 840,000 paid print subscribers, and a growing 6 million paid d ...

'' stated:

With his father's blessing, Fred Pressman slowly transformed the store from a salty discount house that sold roast beef sandwiches in its pub to a purveyor of Italian designers with a cafe serving Perrier and light salads. He began to discard the types of suits that his father was prone to unearthing at auctions and bankruptcy sales, peppering the racks instead with then-obscure and top-name designers both, but continued to offer touches like free alterations that gave Barneys its reputation.

Pressman is quoted as saying, "The best value you can offer a customer is personal attention to every detail, and they will return again and again. Ultimately, the customer cares the most about how he or she is treated." Pressman died in July 1996. In 1970, Barney's built a fifth story onto its original building and a five-story addition. The original store was renamed America House and the addition was named International House. The expanded store occupied the entire Seventh Avenue block (between 16th and 17th streets), with of selling space and 20 individual shops. International House, Fred Pressman promised, would feature complete collections of European designers, "from denim pants to $250 suits", not just a watered-down "potpourri of fabrics and models". The renovated America House, he said, would hold merchandise from "manufacturers who are in effect designers". By 1973, the store was stocking 60,000 suits. It carried the full lines of designers such as

Bill Blass William Ralph Blass (June 22, 1922 – June 12, 2002) was an American fashion designer. He was the recipient of many fashion awards, including seven Coty Awards and the Fashion Institute of Technology's Lifetime Achievement Award (1999). Early ...

Pierre Cardin Pierre Cardin (, , ), born Pietro Costante Cardino (2 July 1922 – 29 December 2020), was an Italian-born naturalised-French fashion designer. He is known for what were his avant-garde style and Space Age designs. He preferred geometric sha ...

, Christian Dior, and

Hubert de Givenchy Count Hubert James Marcel Taffin de Givenchy (; 21 February 1927 – 10 March 2018) was a French aristocrat and fashion designer who founded the luxury fashion and perfume house of Givenchy in 1952. He is famous for having designed much of the ...

. It became the first clothing store in the U.S. to stock the full line of Giorgio Armani, after signing an agreement in 1976. Barneys is widely credited to have introduced Giorgio Armani to the American market. Women's clothing was introduced in 1976 on the third floor of the International House. In the following year, the women's store relocated to The Penthouse, a new top-level enclosure. Barney's also added housewares, cosmetics, and gift departments to the store. Also in 1977, Barney's in-store restaurant was renamed The Cafe and began selling salads, soup and sandwiches.

Barney's to Barneys

The company dropped the apostrophe in Barney's in 1981. In 1981, the women's penthouse became a duplex. Barneys imported 80% of the women's and 40% of the men's merchandise. The $25 million, women's store finally opened in 1986 in a row of six townhouses and two larger adjacent buildings across the store along 17th Street. The addition included a unisex beauty salon and restaurant, antiques, and accessories, gifts, and housewares departments. It accounted for about one-third of Barneys' sales of some $90 million the following year. In 1988, Barneys opened a men's store in the World Financial Center. The store abandoned its Seventh Avenue flagship in 1993, moving to a ,

Kohn Pedersen Fox Kohn Pedersen Fox Associates (KPF) is an American architecture firm that provides architecture, interior, programming and master planning services for clients in both the public and private sectors. KPF is one of the largest architecture firms in ...

-designed Manhattan store on Madison Avenue at East 61st Street. It was the largest new store in New York City since the Great Depression. The building has 22 floors with 14 floors of offices above the nine-story store. The wood floors, a marble mosaic on the lobby floor, gold-leaf ceilings, and lacquered walls of the new Barneys store cost $267 million. In 1989, the store formed a holding company with Japanese department store

Isetan ( unlisted on March 26, 2008, ) is a Japanese department store. Based in Shinjuku, Tokyo, Isetan has branches throughout Japan and South East Asia, including in Jinan, Kuala Lumpur, Selangor, Shanghai, Singapore and Tianjin, and formerly in Ba ...

to operate stores in both countries. The first Tokyo store opened in November 1990. The agreement also called for the

holding company A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...

to spend $250,000 to open 30 smaller stores of approximately . The earliest of these smaller format stores opened in Costa Mesa, California in 1990. Barneys opened its first department store outside Manhattan in

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, in 1993, followed by another large store in Beverly Hills, California, in 1994.

1996 bankruptcy

In 1995, the Pressman family intended to close the investment relationship with Isetan consolidating the Barneys retail business and Isetan investment in the United States real estate for the Barneys flagship stores in New York, Chicago, and Beverly Hills. At the conclusion of this consolidation, the real estate investment and the retail businesses would be held in one company. During the consolidation effort, Isetan's final funding of the real estate investment was intended to be processed through a Pressman family holding company, PREEN (Pressman Robert Eugene Elizabeth Nancy) and then directed to the real estate development. Instead of the funds flowing directly through the holding company to the real estate investment, they were given in exchange to BNY Licensing (another Pressman family company that held the Barneys trademarks) for the projected 50 year royalty stream due BNY Licensing from Isetan for their Barneys Japan business. Isetan was unaware of this transaction at the time. Isetan had reported their investment in Barneys earlier in the year as a current asset expressing their intent and belief that it would be concluded in 1995/first quarter 1996. Isetan considered the handling of the final investment a breach in trust, and stopped efforts to consolidate the investment and the Pressman family business. In December 1995, under the advice of John P. Campo of LeBeouf, Lamb, Greene & MacRae and Anthony Grillo of The Blackstone Group, the Pressmans recognizing that consolidating the investment and the business was no longer viable, voluntarily filed for Chapter 11 Bankruptcy. It was believed that, only in bankruptcy court, could the agreement between the Pressman family and Isetan be dismissed and a new agreement be authored. The strategy failed. The company filed for Chapter 11 bankruptcy in early January 1996. During the bankruptcy some stores shuttered which included Cleveland, Ohio; Costa Mesa, California; Dallas and Houston, Texas; and Short Hills, New Jersey. In subsequent years, management would re-enter some of these markets with larger flagship stores.

Operations during 21st century

2000–2010

On December 20, 2004, the Pressman family sold its remaining ownership, less than 2%, to the

Jones Apparel Group Nine West Holdings (formerly The Jones Group and Jones Apparel Group) is an American designer, marketer and wholesaler of branded clothing, shoes and accessories. In 2019, the company restructured under and is renamed Premier Brands Group Holdin ...

, which in turn sold the company in September 2007 to

Dubai Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...

-based

private equity In the field of finance, the term private equity (PE) refers to investment funds, usually limited partnerships (LP), which buy and restructure financially weak companies that produce goods and provide services. A private-equity fund is both a t ...

firm Istithmar PJSC for $937.4 million. Included in Istithmar's purchase was an estimated $500 million in debt. "The luxury market took a sharp turn for the worse after Istithmar's acquisition of Barneys. U.S. sales of high end clothing, fragrances and accessories slipped 14% in 2009, according to Bain & Co. Although luxury was a star performer over the 2010 holiday season, spending trends have yet to recover to pre-recessionary levels. The privately held company doesn't reveal financial results but said that EBITDA rose by $30 million in 2010." SPP x Thom Browne at Barneys New York

2010–2019

Howard Socol, Barneys' former CEO, resigned shortly after the change in ownership. The company failed to fill the position for over two years until it appointed Mark Lee to the post in September 2010. Lee is the former chief executive of

Gucci Group Gucci (, ; ) is an Italian high-end Luxury goods, luxury fashion house based in Florence, Italy. Its product lines include handbags, ready-to-wear, footwear, accessories, and home decoration; and it licenses its name and branding to Coty Inc., ...

and has consulted and sat on the board of many other fashion companies. After Lee's appointment, Barneys experienced changes in its staff, advertising, and website. Amanda Brooks, former

creative director A creative director (or creative supervisor) is a person who makes high-level creative decisions and, with those decisions, oversees the creation of creative assets such as advertisements, products, events, or logos. Creative director positions ar ...

of Hogan, replaced longtime fashion director, Julie Gilhart. Lee's former Gucci colleague, Daniella Vitale, replaced Judy Collinson as head merchant. Former creative director Simon Doonan, now creative ambassador-at-large, was replaced by Dennis Freedman. Barney's advertisements and catalogs are usually shot in-house, but for Spring 2011 candid shots by art photographers such as William Klein,

Nan Goldin Nancy Goldin (born September 12, 1953) is an American photographer and activist. Her work often explores LGBT subcultures, moments of intimacy, the HIV/AIDS crisis, and the opioid epidemic. Her most notable work is '' The Ballad of Sexual Depe ...

and

Juergen Teller Juergen Teller (born 28 January 1964) is a German fine-art and fashion photographer. He was awarded the Citibank Prize for Photography in 2003 and received the Special Presentation International Center of Photography Infinity Award in 2018. Maj ...

were taken behind-the-scenes during

New York Fashion Week New York Fashion Week (NYFW), held in February and September of each year, is a semi-annual series of events in Manhattan typically spanning 7–9 days when international fashion collections are shown to buyers, the press, and the general publ ...

. Some existing stores saw new renovations such as the in Madison Avenue location's main floor and Co-Op levels. The traditional red awnings were changed to black. Barneys New York 60 jeh

In 2011, Barneys' launched a new website called "The Window" which was the retailer's primary "social media landing page"—a window into the Barneys world, with news about fashion and happenings at Barneys stores. As of February 2011, Barneys no longer sold Prada (with the exception of shoes and

menswear Fashion is a form of self-expression and autonomy at a particular period and place and in a specific context, of clothing, footwear, lifestyle, accessories, makeup, hairstyle, and body posture. The term implies a look defined by the fashion ...

) because of disagreements concerning prices and inventory control. Prada wanted to lease space, but control its own inventory and markdowns under a concession model. Barneys declined. Las Vegas 2011 064

In May 2012, Perry Capital acquired a majority ownership of the company which reduced its $590 million debt to $50 million. It will have three seats on the seven-member board. The former majority owner

Istithmar World Istithmar World ("istithmar" (Arabic) for "investment" (English)) is an investment firm based in Dubai, United Arab Emirates (UAE). This company is a state-run business owned by Dubai World, a Dubai government-owned company, and was establishe ...

as well as new investor Yucaipa Cos will also be on the board as will current executive chairman Mark Lee. In December 2013, ''

Women's Wear Daily ''Women's Wear Daily'' (also known as ''WWD'') is a fashion-industry trade journal often referred to as the "Bible of fashion". Horyn, Cathy"Breaking Fashion News With a Provocative Edge" ''The New York Times''. (August 20, 1999). It provides inf ...

'' announced that the retailer would return to the portion of its original Seventh Avenue site being vacated by bankrupt

Loehmann's Loehmann's was an American retail company which started as a single store in Brooklyn, New York and grew to a chain of off-price department stores in the United States. The chain was best known for its "Back Room", where women interested in fash ...

. In January 2014, Barneys was to use

transgender A transgender (often abbreviated as trans) person is someone whose gender identity or gender expression does not correspond with their sex assigned at birth. Many transgender people experience dysphoria, which they seek to alleviate through ...

models in advertisement for its 2014 advertisement campaign. In February 2016, Barneys New York returned to its original Seventh Avenue location in Chelsea opening a four-story Flagship store. Daniella Vitale was named chief executive officer, succeeding Lee, in February 2017.

2019–present

On August 6, 2019, Barneys New York filed for bankruptcy once more. On October 25, 2019,

announced it had bought the company for $271.4 million. All stores were announced to shutter with the future of the business to be announced. ''The New York Times'' reported that Authentic Brands Group's strategy is "essentially betting that the future of retail lies with abstract values." On Friday, January 15, 2021,

Authentic Brands Declares Victory In Barneys Auction; Rivals Don't Concede
William Sprouse, CFO, October 25, 2019 On September 15, 2022, Authentic Brands Group launched Barneys New York Beauty, a four-product skin care collection consisting of a cleanser, a serum, a day cream and a night cream.

Stores

Prior to its sale to Authentic Brands, Barneys New York operated 22 stores including 12 “Barney’s Warehouse” off-price stores. The flagship department stores were located in Las Vegas, Boston, Chicago, San Francisco, Seattle, Los Angeles, New York, and Philadelphia. Freds restaurants operated inside of the Beverly Hills, Chicago, Madison Avenue, Seventh Avenue, and San Francisco locations. After

purchased the company for $271.4 million, all stores were announced to shutter with the future of the business to be announced. Grand Canal Shoppes (21305094745)

In 2014, the company announced plans for a flagship department store at

Bal Harbour Shops Bal Harbour Shops is an open-air shopping mall in Bal Harbour, a suburb of Miami Beach, Florida. With sales of $3,400 per square foot in 2022, it is one of the highest grossing shopping centers in the world. Notable retailers and restaurants incl ...

Bal Harbour, Florida Bal Harbour is a village in Miami-Dade County, Florida. The population was 3,093 at the 2020 US Census. History Since the 1920s, the Detroit-based Miami Beach Heights Corporation—headed by industrialists Robert C. Graham, Walter O. Briggs ...

as part of a planned expansion of that shopping center. The store was to open in 2023 with the new portions of the center. The company opened a freestanding men's store in San Francisco in February 2016, and in summer 2018 announced it would add a restaurant. On March 12, 2019, Barneys announced a new location at the American Dream shopping and entertainment complex in

New Jersey New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...

, the only location in the state of New Jersey. Six full-line Barneys stores and six warehouse stores operate in its Japan division as of 2020. Barneys New York in Kobe Japan04s5s3200

Barneys New York CO-OP

Established in 1986, the Barneys New York CO-OP originally existed as the contemporary department within Barneys flagship stores. Created to house trendier and less expensive product than the rest of the store, the CO-OP was aimed at younger shoppers with smaller budgets than a traditional Barneys customer. The CO-OP department was spun-off into a separate chain of stores in the 2000s, primarily located in shopping malls and lifestyle centers. At its height, there were more than 20 CO-OP stores throughout the United States. In 2013, Barneys retired the CO-OP name. Several CO-OPs were converted into boutique versions of the flagship Barneys New York brand.

Controversies

Use of "Co-op" in name

The 2010 opening of the Brooklyn, New York CO-OP location raised some concerns among members of the

Park Slope Food Coop The Park Slope Food Coop (PSFC) is a food cooperative located in the Park Slope neighborhood of Brooklyn in New York City. It is one of the oldest and largest active food co-ops in the United States. As a food cooperative, one of its goals is to b ...

regarding the use of the term "co-op" by a for-profit corporation. According to the general manager of the Food Coop, Barneys's use of the term is a violation of the New York State Cooperative Corporations Law.

Racial profiling

In 2013, Trayon Christian, a 19-year-old African American, purchased a $350

Ferragamo Salvatore Ferragamo S.p.A., rebranded in September 2022 as Ferragamo, () is an Italian luxury goods company headquartered in Florence. It specializes in designing and manufacturing footwear and leather goods, which together account for over 86% ...

belt and was arrested shortly after leaving the store. The police had received a call from the store claiming that the debit card used was fraudulent, even though the customer provided proper identification at the time of the purchase. The officers questioned Christian on how he was able to afford the purchased belt, and accused him of using a fraudulent card. He was handcuffed, detained in a holding cell for two hours and interrogated further. He was later released after the police contacted Chase Bank to verify ownership of the card. Another African American shopper, Kayla Phillips, came forward with a similar claim after she purchased a $2,500

Céline Céline, sometimes spelled Celine, is a French female first name of Latin origin, coming from ''Caelīna'', the feminine form of the Roman cognomen ''Caelīnus'', meaning "heavenly".

handbag with her debit card. Both shoppers believe they were targeted because of their race after they purchased costly items and have stated they intend on filing discrimination lawsuits against the store. As a result of these high-profile cases,

Al Sharpton Alfred Charles Sharpton Jr. (born October 3, 1954) is an American civil rights activist, Baptist minister, talk show host and politician. Sharpton is the founder of the National Action Network. In 2004, he was a candidate for the Democrati ...

threatened to boycott the store in October 2013. Sharpton compared Barneys practice of racial profiling to the controversial

stop-and-frisk Frisking (also called a patdown or pat down) is a search of a person's outer clothing wherein a person runs their hands along the outer garments of another to detect any concealed weapons or objects. U.S. Law In the United States, a law enforce ...

policy practiced by the NYPD. Within days of Sharpton's boycott announcement, fans petitioned rapper and businessman Jay-Z to sever ties with the retailer with whom he had a partnership. Jay-Z responded saying that he would look into the matter more thoroughly rather than make a snap judgment stating, "I move and speak based on facts and not emotion." In November 2013, Jay-Z stated that his deal with Barneys would continue as planned, with the condition that he be placed in a leadership role on a committee specifically organized to deal with racial profiling in the store. Other conditions required that all of the proceeds of the BNY SCC collection be donated to Jay-Z's charity, the Shawn Carter Scholarship Foundation. This was a major increase from the 25% of the proceeds that was initially agreed upon. As well, Barneys agreed to donate 10% of all retail of all stores nationwide as well as its web store, Barneys.com, on November 20, 2013, which would guarantee a total of at least one million dollars.

Live butterfly display

In 2018, Barneys used live butterflies to introduce a new line of jewelry and accessories, asking customers and employees to interact with

monarch butterflies The monarch butterfly or simply monarch (''Danaus plexippus'') is a milkweed butterfly (subfamily Danainae) in the family Nymphalidae. Other common names, depending on region, include milkweed, common tiger, wanderer, and black-veined brown. ...

as they flitted around display cases in the Beverly Hills store. PETA reported "that there were many dead and dying butterflies languishing around the display area, behind plants and in plant beds." Barneys responded by banning the use of live butterflies from any future promotions and making a donation to PETA as an apology.

Labor issues

The

union busting Union busting is a range of activities undertaken to disrupt or prevent the formation of trade unions or their attempts to grow their membership in a workplace. Union busting tactics can refer to both legal and illegal activities, and can range ...

firm Kulture Consulting, LLC was hired in 2015. According to a Department of Labor document, Kulture "presented informational meetings to company employees relative to the process of unionization" at Barney's locations in Beverly Hills, Chicago, Las Vegas, and San Francisco. In Chicago representatives from the labor union

Workers United Workers United is an American and Canadian labor union which represents about 86,000 workers in the apparel, textile, commercial laundry, distribution, food service, hospitality, fitness and non-profit industries.Greenhouse, Steve"Union Rejoini ...

reported that "management called workers into one-on-one meetings" and engaged in "scare tactics". In December 2018, Barneys hired Kulture Consulting to present "informational meetings" with employees at its Las Vegas location.

References

External links

*
Save Barneys NY"Barneys Started Our Career": Five New York Designers Remember the Department Store's Impact as Its Fate Hangs in Limbo
Vogue, STEFF YOTKA, October 28, 2019
A Look Back At Barneys, the Department Store that Broke the Rules of Retail
Madeleine Crenshaw, October 28, 2019

''The Cut'', Matthew Schneier, October 2019 {{Authority control 1923 establishments in New York City 2020 disestablishments in New York (state) Clothing retailers of the United States Companies based in New York City Private equity portfolio companies Shops in New York City Luxury brands Retail companies established in 1923 Retail companies disestablished in 2020 American companies established in 1923 American companies disestablished in 2020 Companies that filed for Chapter 11 bankruptcy in 1996 Companies that filed for Chapter 11 bankruptcy in 2019 2012 mergers and acquisitions Defunct department stores based in New York City Authentic Brands Group