Barneys New York to return in 2021
Dec 2, 2020
Yes, you can call it a comeback. Barneys New York is returning early next year under its new owner Authentic Brands Group (ABG) group. There were plans to give Barneys New York a proper revival this year, but they were delayed by the coronavirus pandemic.
Two stores are set to open in the first quarter, over a year after Barney’s originally declared bankruptcy. One will be a shop-in-shop inside of Manhattan’s Saks Fifth Avenue flagship and the other will be a standalone shop in Greenwich, Connecticut. The original plan for the Saks shop-in-shop were scheduled for September, but ABG held off to see how the pandemic would play out. Fred’s, the restaurant Barney’s helped make famous, will also be making a comeback in 2021.
Barney’s filed for bankruptcy last year and ended up liquidating all their stores and merchandise. The famed Madison Avenue flagship store closed. Authentic Brands Group bought the assets and license to Barneys New York. ABG ended up licensing the brand to Saks in North America. Barneys still has six stores in Japan and ABG plans to expand the brand to China and Korea in the next two years.