Barneys to return next year in Saks

Barneys New York is set to return early next year under its new owner, after plans to revive the storied luxury retailer were delayed due to the Covid-19 pandemic.

Caption courtesy by Crains

The first two stores are set to open in the first quarter, more than a year after Barneys declared bankruptcy and began shuttering its locations. One will be inside Saks Fifth Avenue’s flagship in Manhattan, and the other will be a small standalone shop in Greenwich, Conn., the company said.

“We would’ve liked to have it open by now,” Jamie Salter, chief executive of Barneys owner Authentic Brands, said at a news conference Wednesday. The store was supposed to come back in September as a boutique on the fifth floor of the Saks flagship, but the health crisis derailed those hopes.

Fred’s, the restaurant within Barneys, also will make its comeback next year, Salter said.

A representative for Saks confirmed the Barneys timing but declined to comment further.

Barneys filed for bankruptcy for the second time last year and liquidated its remaining merchandise through the holidays before closing its Madison Avenue flagship in February. The department store became a cultural icon during its near-century-long history. What started as a place to buy inexpensive suits became a cornerstone of high-end shopping.

Authentic Brands bought the assets and licensed the brand to Saks in North America, an alternative to reopening a network of large department stores. Authentic has six Barneys stores in Japan and plans to expand it into China and Korea in the next two years.