The necklace is featured in the brand’s “Rebel Heart” campaign starring Adam Levine and Behati Prinsloo.
Bye, Bye Barneys: Judge Approves Sale to Licensing Co.
The longtime luxury retailer will likely close all locations after the sale of its assets was finalized Friday morning.
New York—Barneys New York Inc. will likely close all seven of its stores after a bankruptcy judge approved the sale of its assets to licensing company Authentic Brands Group and investment bank B. Riley Financial Inc.
The judge approved the sale Thursday, court documents show, and it officially closed Friday morning at 10 a.m., leaving little time for potential bidders to swoop in and acquire the luxury retail chain.
Authentic Brands is reportedly going to license the Barneys name to Hudson’s Bay Co., owner of Saks Fifth Avenue, to open Barneys shop-in-shops within Saks stores and allow HBC to operate the Barneys website.
Its inventory would likely go to B. Riley, known for its liquidation business, which brought in $11.3 million in its most recent quarter.
“Over the past several months, we have worked diligently with the court, our lenders and creditors to maximize the value of Barneys in this sale process, and we continue to work with all relevant parties toward the best solution for Barneys’ employees, designers and vendors, and customers,” said Barneys in a statement to The Associated Press.
Barneys filed for Chapter 11 bankruptcy protection Aug. 6 in New York amid soaring costs and declining sales.
Authentic Brands and B. Riley were the frontrunners in the bidding war, placing a $271.4 million “stalking horse” bid in October, but Sam Ben-Avraham, co-founder of streetwear brand Kith, rallied investors and began a campaign to preserve the legendary retailer, which was started by Barney Pressman in 1923.
“The brand as we know it today will disappear from our lives if it becomes an intellectual property license operation. Its unique identity, its point of view, its cutting-edge agenda will be lost,” wrote Ben-Avraham in an open letter on SaveBarneysNY.com.
The investor group wanted to devise a plan that would avoid “store closures and mass layoffs” but Ben-Avraham did not submit a final bid, sources told The New York Post.
Barneys has seven locations, including its New York flagship on Madison Avenue, and employs around 2,000 workers, according to Business Insider.
The silver lining for shoppers may be holiday liquidation sales on high-end luxury goods, a source told The New York Times.
The retailer’s unsecured creditors include the Row, Balenciaga, Yves Saint Laurent, Gucci and Prada.
The Latest
The two organizations will host a joint event, “Converge,” in September 2025.
Big changes appear to be on the horizon for the diamond miner and its parent company, Anglo American.
With Ho Brothers, you can unlock your brand's true potential and offer customers the personalized jewelry experiences they desire.
Padis succeeds Lisa Bridge, marking the first time the organization has had two women board presidents in a row.
Jesse Cole, founder of Fans First Entertainment, shared the “five Es” of building a fan base during his AGS Conclave keynote.
The Royal Oak Perpetual Calendar "John Mayer" was celebrated at a star-studded party in LA last week.
For over 30 years, JA has advocated for the industry, fought against harmful legislation and backed measures that help jewelry businesses.
The announcement came as the company reported a 23 percent drop in production in Q1.
A double-digit drop in the number of in-store crimes was offset by a jump in off-premises attacks, JSA’s 2023 crime report shows.
Inspired by the Roman goddess of love, the designer looked to the sea for her new collection.
The luxury titan posted declining sales, weighed down by Gucci’s poor performance.
The selected nine organizations have outlined their plans for the funds.
The mining company’s Diavik Diamond Mine lost four employees in a plane crash in January.
The crown introduced a dozen timepieces in Geneva, including a heavy metal version of its deep-sea divers’ watch.
Emmanuel Raheb recommends digging into demographic data, customizing your store’s communications, and retargeting ahead of May 12.
Located in the town of Queensbury, it features a dedicated bridal section and a Gabriel & Co. store-in-store.
A 203-carat diamond from the alluvial mine in Angola achieved the highest price.
Ruser was known for his figural jewelry with freshwater pearls and for his celebrity clientele.
The “Rebel Heart” campaign embodies rebellion, romance, and sensuality, the brand said.
Editor-in-Chief Michelle Graff shares the standout moments from the education sessions she attended in Austin last week.
The overhaul includes a new logo and enhanced digital marketplace.
A new addition to the “Heirloom” collection, this one-of-a-kind piece features 32 custom-cut gemstones.
Last month in Dallas, David Walton pushed another jeweler, David Ettinger, who later died.
The move will allow the manufacturing company to offer a more “diverse and comprehensive” range of products.
From now through mid-May, GIA will be offering the reports at a 50 percent discount.
De Beers’ rough diamond sales were down 18 percent year-over-year in its latest round of sales.