×
36 695
Fashion Jobs
BANANA REPUBLIC
General Manager - Willowbend Mall
Permanent · Plano
TOO FACED
Account Executive - Manhattan, New York
Permanent ·
GIII APPAREL GROUP
Accounts Payable Coordinator
Permanent · New York
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Mesa
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · New York
SALLY BEAUTY CORPORATE
Dbe Barber Account Executive
Permanent · Nashville
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Eugene
SALLY BEAUTY CORPORATE
District Manager
Permanent · Winston-Salem
SALLY BEAUTY CORPORATE
Outside Sales Representative - Professional Beauty
Permanent · Reno
CENTRIC BRANDS
Associate, Account Executive - Los Angeles (Hudson)
Permanent · Los Angeles
CENTRIC BRANDS
Area Manager - Bcbg - Texas
Permanent · New York
CENTRIC BRANDS
Senior Analyst - m&a - Business Development
Permanent · New York
CENTRIC BRANDS
Sales Manager, Bcbg - Division - Fashion Valley 624
Permanent · San Diego
ULTA BEAUTY
Prestige Sales Manager-Alabaster Promenade
Permanent · Alabaster
ULTA BEAUTY
Prestige Sales Manager-Shoppes of Mentor
Permanent · Mentor
ULTA BEAUTY
Prestige Sales Manager-Marshall's Plaza
Permanent · DeWitt
ULTA BEAUTY
General Manager-Lincoln Square
Permanent · Arlington
ULTA BEAUTY
Prestige Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Prestige Sales Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Sales Manager-Water Tower Place
Permanent · West Des Moines
ULTA BEAUTY
Retail Operations Manager-Ocean County Mall
Permanent · Toms River
ULTA BEAUTY
Retail Operations Manager-Firewheel Town Center
Permanent · Garland

ABG completes acquisition of Barneys New York

Published
today Nov 2, 2019
Reading time
access_time 2 minutes
Share
Download
Download the article
Print
Click here to print
Text size
aA+ aA-

Almost three months after Barneys New York declared bankruptcy, Authentic Brands Group LLC (ABG) announced on Friday that it has finalized its purchase of the department store retailer and laid out its future plans for the company.


Barneys filed for Chapter 11 bankruptcy in August - Instagram: @barneysny

 
The deal was valued at an estimated $271 million cash in cash when it was first announced in October, and received court approval on Thursday.
 
In between times, Barneys had received a competing offer from Israeli trade show executive Samuel Ben-Avraham but the bid ultimately failed to qualify for a bankruptcy auction.

Looking to the future, ABG, whose brand portfolio includes Juicy Couture and Nautica, intends to leverage its international reach in order to reboot Barneys and boost its presence globally through pop-ups, shop-in-shops and e-commerce, as well as a new freestanding store in an as yet unidentified key U.S. market.
 
As part of these plans, ABG is licensing the Barneys name to Saks Fifth Avenue, who will serve as the brand’s exclusive retail and e-commerce partner in the U.S. and Canada. Indeed, it’s on the fifth floor of the newly renovated Saks Fifth Avenue flagship in New York that the Barneys reboot will kick off, with a new shop-in-shop.

“There is a vision to create multisensory experiences that will usher Barneys New York into a new era while staying true to the brand’s DNA,” explained ABG in a press release. “Its initial focus will be on high-fashion collaborations, branded namesake products, and expanding international retail in both brick and mortar and eCommerce.”
 
Previous reports about the acquisition revealed that ABG will be closing Barneys’ remaining retail locations, but the company’s announcement on Friday also revealed plans to transform the retailer’s Madison Avenue flagship into a pop-up retail experience featuring cultural installations and exhibits.
 
Barneys originally filed for Chapter 11 bankruptcy in August, when a significant rent hike at this same flagship proved to be the last straw for the luxury department store operator. Along with rising rents, the company had already been struggling with a range of other problems that have plagued traditional retailers in recent years, particularly increased competition from online giants such as Amazon.

Copyright © 2019 FashionNetwork.com All rights reserved.