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ashes09General >> It Business

Barneys NY now Barneys Dubai?

By: ashes09 (68)  |  01/25/2009 03:12 AM
 |  Comments (0) |  |  

 As I am sure most of you are well aware, Barneys NY has been posted as for sale. Our beloved fashion boutique of a department store is no longer going to be owned by the Big Apple, technically Jones Apparel Group Inc.In order to gain profit and increase shareholder value, Jones Apparel Group Inc.  reported that Barneys NY, associated as the Poster child for genuine New York fashion, would be up for sale. What I am sure the majority of you will be curious to learn is that Barneys has actually already been sold, to a buyer in Dubai, Investment firm, Istithmar. What are they hiding?  825 M dollars , according to MSNBC News, is the bidders' bill. Barneys sold for double what buyers paid in 2004, according to MSNBC News. While in a meeting today, former Barneys employee of four years informed me that the company has already been sold and are being quiet about the details. Intrigued by the secrecy, I went home to investigate via my trust MAC computer and to my surprise MSNBC news beat me to it. However, I am satisfied that I can now read up on all the juicy details. 
Tags: Barneys, Barneys NY, New York, Dubai, sold, MSNBC News, Jones Apparel Group INC | Source


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