As demand for Barneys pricey fashions and concerns about the store’s credit scuttled plans for an expansion into New York’s Meatpacking district, the company has turned its focus to opening an outpost in Beijing, Dubai, or Macau. Meanwhile, the luxury retailer is still searching for a new CEO.
NY Post: Add Beijing to the list of possible targets as Barneys New York plots its global expansion.
The ultra-chic luxury chain has been “talking to architects” as it sniffs out prospective sites for a new flagship store in China’s capital, a person familiar with the matter told The Post.
Istithmar – the Dubai investment firm that shelled out $950 million to buy Barneys last year – recently has opened an office in Shanghai to survey the region’s fast-growing retail landscape. Other prospective Asian markets for Barneys include Dubai and Macau, sources said…
Meanwhile, Istithmar still has yet to find a CEO to replace Howard Socol, who abruptly resigned in May in a tiff over expansion plans. Some industry insiders anticipate a winning candidate could be announced as soon as next week.
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