Editor/Duke
Since barneys New York, a well-known department store opened in 1923, after 96 years of operation, Barneys officially announced its application for bankruptcy protection a few months ago, in which Barnes repeatedly reiterated that it would not stop business, and Kim's co-founder Sam Ben-Avraham also expressed his willingness to buy, Barnes's operation has turned around, but recently, after many sources confirmed, Barnes has officially announced that the lights have been turned off.
▲ Barnes, a well-known department store in New York that opened in 1923, officially turned off its lights. (Photo/Recapital from IG@barneysny)
According to the New York Times, Barnes sold to The Organic Brands Group for $271 million. Riley Financial, while 2 will control Barneys' name and its luxury goods respectively, is preparing to conduct private shopping campaigns for Barneys' most loyal customers.
▲B. Riley Financial will conduct private shopping campaigns for Barneys' most loyal customers. (Photo/Recapital from IG@barneysny)
However, the lights of a department store with a history of nearly a century reflect the plight of physical store operations at this stage, especially a department store on Fifth Avenue in New York, and Barneys was founded by Barney Pressman, initially positioned as cheap menswear, and after several changes in the middle, it developed into a luxury department store chain. Although the lights have officially turned off in historic Barnes, Autontic Brands group said: "We will build a new business model to enable this legendary brand to have a better luxury shopping experience in the future."