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Barneys Nearing Sale to Saks, Authentic Brands

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Barneys nearing sale to Saks, Authentic Brands

NEW YORK (New York Post) –James Messerschmidt Luxury department store Barneys has hashed out a deal to be sold that could keep the Madison Avenue flagship alive — albeit on a smaller scale.

Saks Fifth Avenue is teaming up with licensing firm Authentic Brands Group to acquire Barneys out of bankruptcy for $270 million, sources told The Post. The deal, if approved by the court, could help save three Barneys stores — in Beverly Hills, Midtown Manhattan and Boston — and give Barneys a presence in thriving Saks stores, these sources said.

Under the deal, ABG would acquire the Barneys brand and Saks would pay a licensing fee to operate Barneys.com and create a Barneys store within Saks. The size of the Barneys mini-stores could be between 10,000 and 50,000 square feet, said a source with […]

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