The ‘Barneys at Saks‘ retail format becomes a reality in New York, a reflection of the partnership between the two brands when, in 2019, Authentic Brands Group (Abg) took over Barneys after bankruptcy. The first store of this alliance opened its doors at the end of last week, on the fifth floor of the Saks Fifth Avenue flagship in Manhattan (the space is over 5 thousand square meters), but it could soon become a standalone format. In fact, the American press talks about an upcoming opening in Greenwich, Connecticut. On a product level, the collaboration with Barneys would allow Saks to welcome more sophisticated fashion proposals.
“It is possible – we read on WWD – that one day Saks will revive the private label Barneys New York, which in the past had been successful, even if to date there are no specific agreements in this sense. Beyond the physical Fifth Avenue and Greenwich locations and Barneys e-sho on saks.com, Saks Fifth Avenue has no set plans for additional stores or Barneys formats. For these to be developed we will have to wait for consumer feedback “.
Authentic Brands Group took over Barneys in October 2019, ready to strengthen its presence as a global luxury retailer and lifestyle brand. As a result of the acquisition, Saks Fifth Avenue has partnered with Barneys for Abg’s stores in the United States and Canada.
Authentic Brands Group has brands such as Juicy Couture, Nine West, Nautica and Volcom (acquired by Kering) in its portfolio. Abg has been in orbit at the BlackRock fund since last August.
“Barneys – explained Jamie Salter, founder and CEO of Authentic Brands Group in the acquisition phase – is one of the most recognizable names in the luxury lifestyle and we see an incredible opportunity to extend brand equity in the markets in which it is present and in new markets around the world. We are also excited to join forces with Saks Fifth Avenue, a leading luxury retailer, to continue to bring innovation to the fashion industry ”.