TOKYO – Barneys Japan is preparing to open a store in the port city of Kobe in spring 2010. This will be the island nation’s fourth Barneys, joining the retailer’s two outposts in Tokyo and a store in Yokohama, Japan’s second-biggest city.
The new store will be Barneys Japan’s first expansion move since Sumitomo Corporation and Tokio Marine Capital Co., Ltd. bought the company from Isetan in 2006, ending a long, acrimonious partnership between Isetan and Barneys New York.
The 30,000 square-foot Kobe store will occupy the lower three levels of a hotel building on a shopping strip home to Louis Vuitton and Prada. First year sales are projected to be 3 billion yen, or about $29 million at current exchange.
Barneys Japan also said it is planning to open more stores in Tokyo, Nagoya, Osaka and Fukuoka and experiment with smaller store formats, e-commerce and outlets.
For complete coverage, see Tuesday’s issue of WWD.