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Barneys New York Plans to Expand Product Offerings and Distribution Amidst Potential Acquisition by Saks Fifth Avenue's Owner

2024-07-13 00:00:13.517000

Barneys New York, owned by Authentic Brands Group, is reportedly in negotiations to expand its product offerings and distribution if the planned acquisition of Neiman Marcus Group by the owner of Saks Fifth Avenue goes through. The brand aims to sell a wider range of products at Saks and Neiman Marcus stores, including home goods, sportswear, intimates, outerwear, and other items. The products could also be sold at Barneys' global stores and other luxury outlets available to Saks Global, the new company that would be created by the planned acquisition. No formal agreements have been reached yet, and negotiations are still in the early stages. Barneys closed its U.S. department stores after filing for bankruptcy in 2019 and currently sells clothing curated from designers and its own branded beauty products at its outposts at Saks. The potential expansion would mark a significant step in Barneys' efforts to compete with online brands and regain its position in the luxury retail market. [cd9255c7] [9fae2511]

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