Jul 25 2013
Barneys New York is undergoing a serious makeover. The distinguished fashion retailer and purveyor of luxury goods has just announced that it is retiring the Co-op name in favor of smaller Barneys units, effective immediately.
The Co-op concept was initially introduced in 1986 as a way to attract a younger clientele with lower prices and less conventional clothing from new and contemporary brands. “Lower prices was the intention when the Co-op began 27 years ago,” Mark Lee, the Barney’s chief executive officer, notes. “The Co-op offered the spirit of Barneys style at a lower price before contemporary and secondary collections existed. With everything we’re doing, it’s more about the edit now. It’s about how we curate these small specialty stores.” According to WWD, in 2010 the Co-op chain was said “to account for between 10 and 15 percent of Barneys New York’s total sales, which then came to $650 million.” Barneys has since shuttered numerous Co-op locations across the country and has refurbished and remodeled several others. All of the rebranded Co-op stores will also be completely re-merchandised and renovated in order to make the transition simple and efficient.
The classic Co-op look found in locations like the one on the Upper West Side featured details like “exposed pipes on ceilings and walls, exposed brick walls and dark, raw concrete floors” and has since been upgraded to “Terazzo tile floors, a new lighting system and new polished steel fixture”. Further renovations and remodeling enables Barneys “to flow everything together under the same brand identity and marketing system”, and ensures shopping at Barneys will remain an exciting and enjoyable experience for years to come.