We’re retiring the Co-op name,” said Mark Lee, Barneys chief executive officer. All existing Co-ops will be re-branded as smaller Barneys New York units. At the same time, Barneys continues its aggressive search for a significant downtown store. The retailer would not comment on potential size, but retail experts noted that it successfully operates units of varying square footage and said 40,000 square feet could be a target.
Small specialty Barneys stores with handpicked selections of ready-to-wear, footwear, accessories, jewelry and beauty is how Lee and his team view the converted units. Denim is still represented, but designer brands such as Proenza Schouler, Azzedine Alaïa, Marni, Chloé and Yohji Yamamoto are playing a more important role alongside Co-op staples such as Helmut Lang, ALC, Theory, Diane von Furstenberg, 3.1 Phillip Lim and Alexander Wang. The retailer found, in fact, that the lines between the dedicated Barneys New York shopper and the defined Co-op consumer have been blurring.
As Co-ops are converted to Barneys, buyers will likely have more clout in the marketplace, representing a now- larger chain of Barneys New York stores. Additional doors will increase their buys, which will help with negotiations with vendors and make meeting requirements for exclusives easier.
The addition of resources such as handbags from Narciso Rodriguez, Pierre Hardy, Balenciaga and Chloé, rtw from La Prestic Ouiston, Sunghee Bang and Swash, and fine jewelry by Feathered Soul will allow the Upper West Side store to realize higher returns. “This store and The Grove were the two top performers under the old concept and the two biggest producers of bottom-line profits,” Lee said. “We have an aggressive plan. We should reach a higher average ticket.”
The store has been merchandised to facilitate wardrobing. “The store was not set up that way,” Vitale said, adding that sales associates are taking part in a new training program that partners them with a sales associate at the Madison Avenue flagship, who acts as a mentor.
Co-op stores had an industrial look with exposed pipes on ceilings and walls, exposed brick walls and dark, raw concrete floors. The Upper West Side store, which set the tone for other renovations, has upgraded to Terazzo tile floors, a new lighting system and new polished steel fixtures.
The small shoe area, which had a flea-market feel with a vintage-looking sofa, has been enlarged to 1,000 square feet, covered in plush gray carpet and decorated with tufted gray ottomans. The store facade was opened up to make the interior visible from the street.
In conjunction with the relaunch of the stores, Barneys this week is officially changing the name of its eighth-floor restaurant at the Madison Avenue flagship from Genes@Coop to Genes@BarneysNewYork.
source: wwd