ABG Finalizes the Acquisition of Barneys New York
The Iconic Retailer Moves to Fifth Avenue
Authentic Brands Group has completed the purchase of the intellectual property of Barneys New York. Through this acquisition, ABG enhances its luxury footprint and makes its foray into experiential luxury and entertainment.
As ABG welcomes Barneys New York into the fold, it is building a business model that will adapt this legendary brand for the future of experiential luxury. ABG is committed to preserving the legacy of Barneys New York while positioning it for long term growth through key partnerships that will expand its global presence as a lifestyle brand and luxury retail experience.
ABG will leverage its international scale, marketing expertise, and network of best-in-class partners to grow Barneys New York’s global presence across retail, including pop-ups, shop-in-shops, eCommerce, and a new freestanding store in a key U.S. market. 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. Its initial focus will be on high-fashion collaborations, branded namesake products, and expanding international retail in both brick and mortar and eCommerce. There is also a strategy in development for Freds to export this beloved eatery to luxury destinations around the world.
ABG also looks forward to joining forces with Saks Fifth Avenue, the ultimate luxury retail destination for exploration and discovery of new fashion, as the exclusive Barneys New York retail and eCommerce partner, for both Barneys.com and BarneysWarehouse.com, in the U.S. and Canada. Saks is working to best understand what customers love about Barneys to evolve it into a new interpretation that is relevant for today’s luxury consumer. The first order of business will be to reboot Barneys New York on the fifth floor of Saks Fifth Avenue’s newly renovated New York City flagship. Barneys New York at Saks is planning to launch as shop-in-shops in key Saks markets in the U.S. and Canada. ABG is excited to partner with the Saks Fifth Avenue management team as the new Barneys New York at Saks rolls out.
In addition to ABG’s purchase of the Barneys New York IP, its plans following the transition sale include evolving the Madison Avenue location into a pop-up retail experience, bringing together an eclectic curation of boutiques, art and cultural installations and exhibits, and entertainment that fosters creativity and community.
The acquisition will maintain the current licensing agreement between Barneys New York and Seven & i Holdings, which operates 12 Barneys New York retail stores in Japan. The Japan stores will continue operations as usual.
