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Barneys New York
Type
department store
Founded
1923
Headquarters
New York City, New York industry = Retail
Products
Clothing, footwear, bedding, furniture, jewelry, beauty products, and housewares.
Website
http://www.barneys.com/
Barneys New York is a chain of luxury department stores headquartered in New York City, headed by Judy Collinson, EVP and GMM of the Women's Division and Tom Kalendarian, EVP and GMM for the Men's Division. The chain is composed of several large stores (dubbed flagships by the company) in New York City, Beverly Hills, and Boston (average size 94,853square feet (8,810m2)) and smaller stores, including those who target younger consumers and discount stores (average size 12,133square feet (1,130m2)).
Merchandise selections come from a variety of designers including Giorgio Armani, Manolo Blahnik, Fendi, Givenchy, Marc Jacobs, Prada, Jil Sander, Dries van Noten, Diane von Furstenberg, and Ermenegildo Zegna, as well as Barneys private label merchandise. Barneys typical look consists of bright red awnings and original window displays[dubious discuss]. The New York and Beverly Hills stores also have on-site restaurants that are operated by third parties.
The company filed for Chapter 11 Bankruptcy in 1996, closed stores in Chelsea and several other locations across the US, and sold the department stores in Japan and Singapore[citation needed]. On December 20, 2004, the Pressman family sold its less than 2% remaining ownership to the Jones Apparel Group, which in turn sold the company in September 2007 to Dubai-based private equity firm Istithmar PJSC for $937.4 million.
Contents
1 Manhattan Store history
2 Barneys New York Flagship/Regional Stores
3 Barneys Outlet Stores
4 Barneys CO-OP
5 Pop culture references
6 References
7 External links
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Manhattan Store history
The company began in 1923, when Barney Pressman opened his first store in Manhattan with the $500 raised by pawning his wife's engagement ring in order to lease a 500-square-foot (46m2) retail space at Seventh Avenue and West 17th Street in Manhattan, which would become the original Barney's store, with 20 ft (6m) of frontage and an awning identifying the store as "Barney's Clothes." The store was stocked with 40 brand name suits and a big sign with a slogan, "No Bunk, No Junk, No Imitations." Barney's was able to sell tailored clothing at discounted prices by purchasing showroom samples, retail overstocks, manufacturers' closeouts at auctions and bankruptcy sales. It also offered free alterations and free parking to attract customers. As business grew, eventually three floors above street level, starting in 1934, would be gradually added to the store.
Barney Pressman claimed to be the first Manhattan retailer to use radio and television, beginning with "Calling All Men to Barney's" radio spots in the 1930s that parodied the introduction of the Dick Tracy show. He sponsored radio programs featuring Irish tenors and bands playing jigs to advertise Irish woolens. Outside of broadcast media, he was more eccentric in promoting his store. Women encased in barrels gave away matchbooks with the store name and address. He even chartered a boat to take 2,000 of his customers from Manhattan to Coney Island.
For decades Barney's was known for cut-rate men's suits. By 1964, the store started to shed its discount image and went upscale. In a 1973 interview to Business Week, Fred Pressman became "convinced that the discount route definitely was not for us. My father and I have always hated cheap goods.... I didn't want to sell low-end merchandise. Now, many of those who chose to are verging on bankruptcy."
The original four-level store was expanded in 1970 when another story to the original store and a five-story addition was erected adjacent to the original store. The original store was renamed America House and the addition was named International House. The expanded store finally occupied the entire Seventh Avenue block where it began (between 16th and 17th streets), with 100,000square feet (9,300m2) of selling space and 20 individual shops.
International House, Fred Pressman promised, would feature complete collections of European designers, "from denim pants to $250 suits," not just a watered-down "potpourri of fabrics and models." The renovated America House, he said, would hold merchandise from "manufacturers who are in effect designers."
By 1973, the store was stocking 60,000 suits, 1,500 times the number when it first opened in the 500-square-foot (46m2) leased space 50 years earlier. It carried the full lines of designers such as Bill Blass, Pierre Cardin, Christian Dior, and Hubert de Givenchy. It became the first clothing store in the U.S. to stock the full line of Giorgio Armani, after signing an exclusive agreement in...(and so on)
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