NEW YORK — Barneys New York said two more Co-op openings are set for this fall in two upscale locations, The Westchester mall in White Plains, N.Y., and the Somerset Collection in Troy, Mich.
The spaces, each about 6,000 to 6,5000 square feet, will bring the Co-op chain to a total of 12 units. More Co-op stores are expected to be announced.
"The latest additions to the expansion of our Co-op concept will be located in two of the premium shopping centers in the country," Barneys chairman and chief executive officer, Howard Socol, said in a statement. "In the case of Somerset Collection, we will have the opportunity to bring Barneys New York Co-op to a new market, which we believe will be a great fit for the concept. Our location at The Westchester will enable us to grow our business in a suburb of our New York base. We are continuing to explore additional opportunities for the national expansion of the Co-op concept."
Barneys New York is a wholly owned subsidiary of Jones Apparel Group Inc., which has been put up for sale. That decision has apparently not slowed down Barneys from expanding with more stores. More information on the proposed sale and the expansion might be divulged at Jones' annual meeting on May 23.
Barneys' flagships are considered the primary growth vehicle, at 50,000 to 80,000 square feet and with a full representation of designer and private label merchandise. The Co-op, which has a narrower merchandise range focused on contemporary sportswear, accessories and premium denim, is a secondary growth vehicle.
Barneys has four flagships, in New York, Beverly Hills, Chicago and Boston. Barneys also operates three smaller full-price stores, 12 outlets and two semiannual warehouse events, as well as the Co-ops.
Barneys' next flagship opening will be in NorthPark Center in Dallas in the fall. Another flagship is planned for the Palazzo Resort Hotel Casino being constructed next to the Venetian in Las Vegas. It is scheduled to open in fall 2007.
San Francisco, Atlanta, San Diego, Miami, Washington and the Chicago metropolitan area are among the sites being considered for stores. Barneys also is said to have scouted SoHo, along Broadway, and the Meatpacking District, near 14th and Gansevoort Streets, in Manhattan.The retailer is seeking to become a billion-dollar business by 2008. The company last year posted $444.2 million in volume.
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