From Wednesday through the Black Friday weekend, the store is offering Black Friday discounts that will put the average discounts on luxury products in the range of 30 to 35 percent. The discount season includes in-store promotions with varying discounts on individual items.
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LVMH goods are excluded from the discounts, as part of the luxury brand’s prior arrangement with the former Barneys, well before its bankruptcy sale to licensing company Authentic Brands Group and lender B. Riley Financial that closed on Nov. 1. The liquidation sales are being run by B. Riley subsidiary Great American Group.
“Virtually every item across all departments is included in the Barneys store closing sale [approx. 95 percent of all Barneys store items are on sale whereas most Black Friday promotions are reserved for select styles only],” Great American said Wednesday. “Inventory is limited and certain exclusions apply.”
The sales are taking place at Barneys’ five flagship locations, namely on Madison Avenue and Downtown New York, in Beverly Hills, San Francisco and in Boston. The sales are also taking place at Barneys’ warehouse locations at Woodbury Common in New York and San Francisco Premium Outlets in Livermore, Calif.
It’s not clear which Barneys stores will survive in its new era. Authentic Brands had previously reached an agreement with Ashkenazy Acquisition Corp., which owns the Barneys flagship on Madison Avenue in New York and in Beverly Hills, to keep the Madison Avenue flagship open with a smaller footprint for a year while they “explore longer-term solutions.”
ABG has also proclaimed its vision of Barneys shops within Saks Fifth Avenue stores as part of a licensing arrangement, a prospect that continues to befuddle some observers.
The liquidation sales are expected to go through the holiday season, and potentially extend into the winter.
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