Barneys liquidation sales to affect other luxury brands
27/11/2019
Since Authentic Brands Group won court approval to buy the bankrupt company in late October, Barneys has been selling its remaining inventory.
As reported in Bloomberg, Beth Goldstein, an analyst for fashion and handbags at research firm NPD Group, said the store’s move to liquidate an entire chain worth of luxury goods is unprecedented. As Barneys’ efforts continue through the holiday season, price cuts may go even deeper. The lower prices could also impact competitors, especially those at locations near Barneys stores.
“It’s completely different from what we’ve seen from anyone in the past,” Ms Goldstein was reported saying. “We don’t see discounts like this on luxury goods.”
Image: Barneys New York Madison Avenue flagship store.
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