Celebrity Life
Diana Verde Nieto On The Rise Of Sustainable Luxury Online
Positive Luxury.
The post Diana Verde Nieto On The Rise Of Sustainable Luxury Online appeared first on Luxe Digital.
The Future of Online Luxury Retail
New tactics to drive online sales of high-end goods.
The post The Future of Online Luxury Retail appeared first on Luxe Digital.
The Future of Online Luxury Retail
New tactics to drive online sales of high-end goods.
The post The Future of Online Luxury Retail appeared first on Luxe Digital.
The Future of Online Luxury Retail
New tactics to drive online sales of high-end goods.
The post The Future of Online Luxury Retail appeared first on Luxe Digital.
Behind The Demise Of Sonia Rykiel
Parisian clothing label Sonia Rykiel has been an icon of French fashion for over half a century. So how did the once sought-after brand find itself on the outs with consumers?
The post Behind The Demise Of Sonia Rykiel appeared first on LUXUO.
Barneys New York Has Filed for Bankruptcy. Is This the End for the Luxury Retailer?
Following weeks of rumours about its impending demise, the luxury department store Barneys New York filed for bankruptcy protection on Monday. Due to increased rent costs, growing competition, shoppers' changing habits and lower sales figures, the retailer has been suffering for some time now.
After filing for Chapter 11 bankruptcy protection, Barneys has been forced to announce the closing of 15 of its 22 stores, including locations in Chicago, Las Vegas and Seattle. Five of its flagship locations will remain open, including the two stores in Manhattan as well as those in Beverly Hills, San Francisco and Boston. Two other outlets that will remain open are Barneys Warehouse locations in Central Valley, New York and Livermore, California. Meanwhile, Barneys.com will also remain in operation for online customers.
It’s estimated that Barneys has racked up liabilities of anywhere from US$100 to $500 million (HK$783 million to HK$3.9 billion). As it begins to restructure the business, the legendary retail institution has taken out a US$75 million loan in hopes of buying some time to find a buyer to salvage the Barneys name. Chief Executive Daniella Vitale commented that the bankruptcy protection “will provide the company the necessary tools to conduct a sale process, review our current leases and optimise our operations.”
[caption id="attachment_157395" align="alignnone" width="1200"]
Photo credit: Hunter Abrams, Barneys New York[/caption]
Barneys New York came from humble beginnings, starting out as a men’s discount store on Seventh Avenue in 1923. Founder Barney Pressman pawned his wife’s engagement ring to fund the opening of the 500-square-foot shop. By the 1960s, Barney’s son Fred stepped in and transitioned the destination for deals into luxury with the help of friends Hubert de Givenchy and Pierre Cardin.
Younger brothers Gene and Bob joined the family business in the '70s and brought on women’s designer clothing, mainly from Europe, including Giorgio Armani. With fashion and music icons like Madonna, Naomi Campbell and Christy Turlington, the brand then catapulted into legendary status in the late '80s. Bt the turn of the century, Barneys locations had opened all across the US.
This isn't the first time Barneys has been in bankruptcy, having filed for it once before in 1996, but we'll just have to wait and see what happens next for the legendary luxury department store.
The post Barneys New York Has Filed for Bankruptcy. Is This the End for the Luxury Retailer? appeared first on Prestige Online - Hong Kong.
Will department stores go extinct?
Despite dropping numbers for physical retail, luxury department stores are still going strong.
The post Will department stores go extinct? appeared first on The Peak Magazine.
Will department stores go extinct?
Despite dropping numbers for physical retail, luxury department stores are still going strong.
For more stories like this, visit www.thepeakmagazine.com.sg.
How Luxury Brands Can Attract The Affluent Chinese Travellers
Can international destinations compete with domestic travel?
The post How Luxury Brands Can Attract The Affluent Chinese Travellers appeared first on Luxe Digital.
How Luxury Brands Can Attract The Affluent Chinese Travellers
Can international destinations compete with domestic travel?
The post How Luxury Brands Can Attract The Affluent Chinese Travellers appeared first on Luxe Digital.
How Luxury Brands Can Attract The Affluent Chinese Travellers
Can international destinations compete with domestic travel?
The post How Luxury Brands Can Attract The Affluent Chinese Travellers appeared first on Luxe Digital.
How Luxury Brands Can Attract The Affluent Chinese Travellers
Can international destinations compete with domestic travel?
The post How Luxury Brands Can Attract The Affluent Chinese Travellers appeared first on Luxe Digital.