NEW YORK — Taking a major step forward in national expansion, Barneys New York said Tuesday that it will open a 60,000-square-foot flagship in San Francisco in fall 2007.
The unit will be just off of the busy Union Square retail hub, at 48 Stockton Street.
Barneys for years has scouted sites in San Francisco, where Neiman Marcus, Macy's and Nordstrom have top-performing units and Bloomingdale's will open its largest branch — more than 300,000 square feet — in the fall at 845 Market Street.
Barneys, considering its smaller size among major luxury fashion chains, has been aggressively planning flagships and Co-ops. The strategy has not been interrupted by the proposed sale of Barneys' parent, Jones Apparel Group. "We remain focused on continued expansion of both our flagship and Co-op concepts to further enhance the value of the Barneys brand," Howard Socol, Barneys chairman and chief executive officer, said in a statement.
Barneys operates flagships on Madison Avenue in Manhattan and in Beverly Hills, Chicago and Boston; three regional full-price stores; 10 Co-ops, and 12 outlets, and offers two semiannual warehouse sales.
The luxury retailer's next flagship is to open at NorthPark Center in Dallas in September. Another will launch in the fall of 2007 in Las Vegas at the Venetian Resort Hotel complex.
Barneys wants to open a flagship on Long Island, N.Y., in the Mall at Oyster Bay, which is being planned by Taubman Centers. However, the project has been stalled for years in the courts because of community and environmental concerns.
Other possibilities for Barneys flagships are: Atlanta, San Diego, Miami, Washington and the Chicago metro area.
The vision is to put up flagships of about 50,000 to 80,000 square feet through 2008 while rolling out Co-ops, which specialize in contemporary sportswear and premium denim. Barneys hopes to grow to at least $1 billion in sales, more than doubling its current volume.
"Opening a San Francisco flagship has been an objective of our company ever since Barneys first commenced its expansion outside of New York several years ago," Socol said. "We are thrilled to be able to make that dream a reality in a location in the heart of Union Square. As in the case of our other new flagships, customers visiting the San Francisco location can expect to find an assortment of men's and women's apparel, accessories, shoes and cosmetics reflective of what is carried in our existing flagships."
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