The fashion industry has a weakness for names with history. By industry, in the case at hand, we understand consumers (who are also the audience), executives (who make decisions) and the media (who spread the word). History is what makes Dior Dior, Chanel Chanel and Barneys New York what it was and what its current owner, Authentic Brands Group (owner of brands like Hunter or Brooks Brothers and names like Marilyn Monroe or Shaquille O’Neal), has turned it into a brand that sells cosmetics, fast fashion and, starting in December, a magazine.
Barneys New York first opened its doors as a discount men’s fashion store in the Chelsea neighborhood in 1923. Creator Barney Pressman was so sure his idea would be a success that he pawned his wife’s wedding ring to get it. . He wasn’t wrong.
In the seventies, under the presidency of one of his sons, Fred Pressman, Barneys obtained exclusive distribution of Giorgio Armani’s unstructured tailoring that would forever revolutionize the men’s wardrobe. It would also bring millions of benefits. It was the first milestone in the department stores’ history as scouts for brands that would end up being stars, but not the only one: Azzedine Alaïa, Comme des Garçons, Yohji Yamamoto and Proenza Schoulder are just some of the brands that their customers discovered on their shelves. . Being at Barneys did not mean having a point of sale, it was a seal of distinction.
The excellent work of its fashion directors was supported by the decisions of its management. In 1993, Fred Pressman inaugurated the Barneys New York enclave on Madison Avenue that would transform retail norms. Designed by Peter Marino (he would later sign projects for Calvin Klein, Louis Vuitton…), it became a place to go to see and be seen (the fact that its nine floors were illuminated by daylight made the task easier), a place to go to get the most aspirational New York. And elitist, of course.
The stores and Manhattan walked at the same pace. Its interior and its offer were an image of the culture, art, and music of the city. It didn’t matter if you were from Sex and the City or Gossip Girl, Seinfeld or Friends. Their protagonists shopped at Barneys. What happened? That everything changes.
Consumer habits have changed. Barneys did not know how to get on the online commerce train in time and the customer who can invest in fashion today no longer wants to be told what to buy, the only agent with the power of prescription is Instagram. Even so, the problem that not even its penultimate owner, hedge fund manager Richard Perry could overcome, was an increase in rent from 16 to 30 million dollars annually.
In August 2019, Barneys New York filed for bankruptcy. A few days later it was sold for parts in a Poughkeepsie courthouse, and Authentic Brands Group took over the intellectual property of its name. Since then it has launched Barneys at Saks Fifth Avenue (something similar to a twinning between Coca-Cola and Pepsi) and collaborations with the mid-priced urban brand Krost and the fast fashion company Forever 21 (both are part of its portfolio of brands ).
During the next edition of Miami Art Basel a new adventure will be presented: a magazine with her name that will be directed by Kara Studizinski (former editor of Ralph Lauren, Barneys itself or Elle) and in which Robbie Myers (director of Elle between 1998 and 2017) will collaborate. ). The publication, however, will also acquire a physical dimension in pop-ups that the group plans to open in different places in the United States. The end of this story may be the beginning of another.
