Fashion Men's Fashion

Why the Luxury Department Store is Becoming Irrelevant

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By this point, you’d have to be living under rock to not hear that Barneys – the iconic luxury New York City department store that started as a menswear retailer – filed for chapter 11 bankruptcy and was since acquired by Authentic Brands Group. Although earlier reports claimed that 15 of its 22 stores would close, the acquisition was less hopeful: Authentic Brands plans to close the rest of the remaining Barneys stores, although its namesake is expected to live on in a micro-store-within-a-store concept at Saks Fifth Avenue.

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