Barneys New York is setting the stage for a remarkable revival, largely hinged on the pending $2.65 billion acquisition of Neiman Marcus Group by the owner of Saks. This iconic department store, once a go-to for affluent New Yorkers, shut its flagship in Madison Avenue and other US outlets in 2019 after a bankruptcy. However, it is now eyeing a comeback, with plans to reintroduce itself not only in Manhattan but also wider.
According to sources, Barneys aims to diversify beyond the perfume and beauty lines it established post-bankruptcy under Authentic Brands Group’s ownership. Target categories include home goods, sportswear, intimates, outerwear, and more. These products will be sold across Saks Fifth Avenue and Neiman Marcus stores globally. This ambitious plan leans heavily on the proposed Saks-Neiman merger, which, if successful, would enable extensive distribution opportunities.
Until now, Barneys’ presence in Saks stores has been limited to designer-curated clothing and beauty products. The impending deal seeks to leverage this partnership, expanding Barneys’ product licenses and boosting its presence in the high-end retail market.
The planned resurgence is still in negotiation phases, with formal agreements yet to be concluded. Authentic Brands, Saks Fifth Avenue, and Neiman Marcus representatives have chosen not to comment.
Barneys’ previous downfall was financially driven, with its Madison Avenue rent alone surpassing $30 million annually, amid rising competition. Purchased out of Chapter 11 by Authentic Brands Group, Barneys’ resurrection strategy now involves assigning licenses to new partners under the newly envisaged ‘Saks Global’ entity post-merger. Authentic Brands Group, known for managing distressed brands like Brooks Brothers and Forever 21, sees this as another brand revitalization opportunity.
Sarah Jessica Parker, a prominent figure who often referenced Barneys in “Sex and the City,” had called its demise “stunning,” emphasizing its significant fashion influence.
The revival embodies a strategic bid to capitalize on the luxury market, leveraging Barneys’ rich heritage while incorporating it into contemporary retail ecosystems via Saks and Neiman Marcus, setting the brand on a path towards renewed consumer engagement and market prominence.
