On Friday, a “Barneys at Saks” department will be unveiled at the Saks Fifth Avenue flagship in Manhattan, where it occupies the entire 54,000-square-foot fifth floor.
Margolies characterized the Barneys project as part of the strategy of the past five years to elevate Saks, in her words, into the “fashion authority delivering the best choices and the best edit, any way customers want to get it,” and to further the four-year, $250 million-plus modernization of the 640,000-square-foot Fifth Avenue flagship, recasting and renovating the floors. It’s essentially complete now, except for some future men’s renovations.
There’s been some discussion on how much value Barneys brings to Saks, and whether it will bolster or distract from the retailer’s image. With Barneys stores no longer around, Saks is in a position to get many of the brands sold by its former competitor, with or without the deal with ABG. But with the deal, Saks could pick up some new customers that were loyal to Barneys, and it prevents another retailer from trying to capitalize on the Barneys name. “We are always looking for new customers.
Some key labels at Barneys at Saks are Acne Studios, A.L.C., Isabel Marant Étoile, L’Agence, Off-White, Simon Miller, Simone Rocha, Thom Browne, Re/Done, Rick Owens and Zimmermann. Saks is using its existing team for the Barneys buying. Honeybrains, a fast casual restaurant with a menu dedicated to brain health including raw honey-infused coffees and teas, fresh-pressed juices and shots, and nutrient-based dietary supplements, will operate by the windows on the Fifth Avenue side of the store, and initially will be for takeout only.
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