By and  on June 25, 2007

With the $825 million sale of Barneys New York to the Dubai-based Istithmar investment firm, the international appeal of an enduring Manhattan retail institution will be tested.

So will the future of Barneys' former parent, Jones Apparel Group. As Jones searches for ways to turn its remaining clothing brands into growth vehicles or prepare for further disposals, Istithmar is expected to bring the 84-year-old Barneys to, among other regions, the Middle East. One possibility is Palm Islands where homes, shopping centers and hotels are being developed on three large man-made islands off the coast of Dubai.

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