Business Services Industry
Jones Apparel agrees to buy luxury retailer Barneys New York for $400 million.
Knight Ridder/Tribune Business News, November, 2004
Kyodo News International, Tokyo Knight Ridder/Tribune Business News
Nov. 12--NEW YORK -- Jones Apparel Group Inc. said Thursday it has agreed to buy Barneys New York Inc., a popular luxury retailer of fashionable apparel, accessories and other products, for an estimated $400 million.
Barneys has stores in New York, Beverly Hills, Chicago and other cities, in addition to four co-op Barneys New York stores and 11 outlets.
"Barneys is a preeminent luxury retailer with great brand awareness," said Peter Boneparth, the president and chief executive officer of Jones." We are excited about bringing this famous brand into our portfolio." Howard Socol, chairman, president and CEO of Barneys, said, "We intend to continue to cater to our loyal...
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