Barneys New York is an American chain of luxurious shops headquartered in New York Metropolis. The chain owns flagship shops in New York Metropolis, Beverly Hills, and Chicago, all of which have eating places operated by third events. Smaller shops could be present in different areas throughout the USA.
Manufacturers bought embrace quite a few excessive-finish labels akin to Saint Laurent Paris, The Row, Balenciaga, Rick Owens, Burberry Prorsum, Dries Van Noten, Thom Browne, and Bettanin & Venturi, in addition to Barneys personal label merchandise.
The corporate started in 1923, when Barney Pressman opened his first retailer in Manhattan with $500 raised by pawning his spouse’s engagement ring with the intention to lease a 500-sq.-foot (forty six m2) house at Seventh Avenue and West seventeenth Avenue in Manhattan with 20 ft (6 m) of frontage. Barney’s Garments was stocked with forty model identify fits and a giant signal with a slogan, “No Bunk, No Junk, No Imitations.” Barney’s bought clothes at discounted costs by buying showroom samples, retail overstocks, and producers’ closeouts at auctions and chapter gross sales. It additionally provided free alterations and free parking to draw clients.
Barney Pressman claimed to be the primary Manhattan retailer to make use of radio and tv, starting with “Calling All Males to Barney’s” radio spots within the Nineteen Thirties that parodied the introduction of the Dick Tracy present. He sponsored radio applications that includes Irish tenors and bands enjoying jigs to promote Irish woolens. Girls encased in barrels gave away matchbooks with the shop identify and tackle. He additionally chartered a ship to take 2,000 of his prospects from Manhattan to Coney Island.
On December 20, 2004, the Pressman household offered its lower than 2% remaining possession to the Jones Attire Group, which in flip bought the corporate in September 2007 to Dubai-primarily based non-public fairness agency Istithmar PJSC for $937.four million. Included on this buy is an estimated $500 million in debt. “The luxurious market took a pointy flip for the more severe after Istithmar’s acquisition of Barneys. U.S. gross sales of excessive finish clothes, fragrances and equipment slipped 14% in 2009, in keeping with Bain & Co. Though luxurious was a star performer over the 2010 vacation season, spending developments have but to recuperate to pre-recessionary ranges. The privately held firm does not reveal monetary outcomes however stated that EBITDA rose by $30 million in
Howard Socol, Barneys’ former CEO, resigned shortly after the change in possession. The corporate didn’t fill the place for over two years till Mark Lee was appointed in September 2010. Lee is the previous chief govt of Gucci Group and has consulted and sat on the board of many different vogue firms. Since Lee’s appointment, Barney’s has skilled modifications in its employees, promoting, and web site. Amanda Brooks, former inventive director of Hogan, changed very long time vogue director, Julie Gilhart. Lee’s former Gucci colleague, Daniella Vitale, changed Judy Collinson as head service provider. Former artistic director Simon Doonan, now inventive ambassador-at-giant, was changed by Dennis Freedman.
Barney’s commercials and catalogs are normally shot in-home, however for Spring 2011 candid pictures by artwork photographers akin to William Klein, Nan Goldin and Juergen Teller have been taken behind-the-scenes throughout Trend Week. Some present shops will face new renovations such because the in Madison Avenue location’s most important ground and Co-Op ranges. The standard pink awnings have been modified to black. Barneys’ web site has been revamped and has launched a brand new web site referred to as “The Window” which is the retailer’s major “social media touchdown web page”—a window into the Barneys world, with information about vogue and happenings at Barneys shops.
As of February 2011, Barneys now not sells Prada apart from footwear and menswear due to disagreements regarding costs and stock management. Prada needed to lease an area, however management its personal stock and markdowns below a concession mannequin. Barneys declined.
In December 2013, Ladies’s Put on Every day introduced that the retailer will probably be returning the portion of its unique Seventh Avenue web site being vacated by bankrupt Loehmann’s. In January 2014, Barneys will use transgender fashions in commercial for its 2014 commercial marketing campaign.