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What Happened to Barneys New York?

This used to be a post about the Barneys New York return policy — but alas, Barneys New York is no more. How a brand that was so significant to the Manhattan fashion scene folds up and disappears, well, let’s just say it didn’t happen overnight.

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The short story of Barneys’ demise is that the brand struggled financially in the 1990s and never regained its former glory. A series of owners, a lack of branding direction, and short-sighted real estate deals all contributed. In 2019, the retailer filed bankruptcy a second time and was quickly liquidated.

Barneys New York store in Saks Fifth Avenue.
Photo credit: Luis Guillén for Saks Fifth Avenue

Can you still shop Barneys New York?

Die-hard Barneys shoppers can shop “Barneys at Saks.” The store-in-a-store concept is live in New York and Connecticut. Technically, the Connecticut store has its own address, but it doesn’t have any outdoor signage. So…kind of a disappointing second wind for the famed retailer.

You can also shop Barneys at Saks online.  

Saks Fifth Avenue describes Barneys at Saks this way: “A destination for emerging designers, unique discoveries and immersive pop-up shops.” The shop carries both men’s and women’s merchandise.

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What Barneys at Saks actually is — and this is me being cynical — is Saks’ attempt to monetize the Barneys name and create space for former Barneys shoppers.

Note that Saks did not buy the Barneys name out of bankruptcy. The buyer in 2019 was Authentic Brands Group and investment bank B. Riley Financial Inc. B. Riley Financial handled the liquidation side of the deal. Authentic Brands is in the business of buying downtrodden retailers and licensing their names out to former competitors. That’s what’s happening here.

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What is the history of Barneys New York?

Here’s a rough timeline of key milestones in the rise and fall of Barneys.

  1. 1923: Barney Pressman opens a small, discount men’s clothing shop in Manhattan.
  2. 1930s: Pressman relies on radio advertising to grow his customer base.
  3. 1960s: Fred Pressman, Barney’s son, engineers the store’s transition from discount to luxury.
  4. 1970s: The store builds a fifth story onto its building and starts carrying European designer collections.
  5. 1976: Barneys inks a deal with Giorgio Armani to stock the designer’s full line of suits.
  6. 1981: The retailer changes its name from Barney’s to Barneys.
  7. 1988: Barneys leaves its flagship location and opens a 10,000-square-foot men’s store on Madison Avenue and East 61st Street.
  8. 1989: Barneys partners with Japanese retailer Isetan.
  9. 1990: Barneys expands into Japan and California.
  10. 1993: Barneys opens a store in Chicago.
  11. 1996: Barneys files for bankruptcy for the first time, after trying to unwind its partnership with Isetan.
  12. 2004: The Pressman family sold its remaining ownership in Barneys.
  13. 2004-2019: Barneys changes ownership several times and struggles to reinvent itself.
  14. 2019: Barneys files bankruptcy again and closes 15 stores. Later in the year, Authentic Brands Group won the auction of the store’s assets. Authentic Brands Group closes the rest of the stores.

Down with a fight

The story of Barneys final auction and the efforts by many to keep the retailer alive is well documented by The New York Times. It’s a great read, and touch sad, too.

At the end, according to Variety, Barneys’ New York location went down in the worst way possible: with trash piled in corners and “everything must go” signs. The store was shuttered by March of 2020.

Goodbye Barneys. For your service, your selection, and your luxury, you were loved.