The luxury retailer is set to open two locations in the first quarter of 2021, including a store-in-store location at Saks Fifth Avenue’s iconic Manhattan flagship.
Barneys filed for bankruptcy back in 2019 and their intellectual property was bought by Authentic Brands Group for $271.4M. Since then, the company has partnered with Saks Fifth Avenue who will now serve as the exclusive retail and e-commerce partner for Barneys in the US and Canada.
ABG have launched six Barneys stores across Japan and have plans to expand into both China and Korea in the next two years. The next step for the company is to relaunch in the US and Canada. Initially, the company will open two locations, with one being a store-in-store location at Saks Fifth Avenue’s Manhattan flagship and another at Saks’ store in Greenwich.
“We would have liked to have it open by now, unfortunately what happened with Covid-19 has set us back a year,” commented Jamie Salter, Chief Executive Officer of Authentic Brands. However the company are now confident that the new Barneys stores will open early next year.
