The days of Co-op at Barneys New York is coming to an end.
"We're retiring the Co-op name," said Mark Lee, Barneys chief executive officer. All existing Co-ops will be re-branded as smaller Barneys New York units
reported WWD.
Co-op was known for its more casual mix of premium denim and contemporary brands for men and women. The Co-op concept was first introduced in 1986 as a lower-priced option for younger consumers. It has since existed as freestanding stores and on the seventh and eighth floors of Barneys New York's Madison Avenue flagship. "Lower prices was the intention when the Co-op began 27 years ago," Lee noted. "The Co-op offered the spirit of Barneys style at a lower price before contemporary and secondary collections existed. With everything we're doing, it's more about the edit now. It's about how we curate these small specialty stores."
Co-ops were initially coed when they launched, but in the remodeled 10,420-square-foot Upper West Side store and the 9,266-square-foot unit at The Grove in Los Angeles, which on Aug. 1 will be re-branded, men's merchandise was eliminated to make room for expanded offerings in the women's selection. "These are neighborhood stores," said Daniella Vitale, chief operating officer and senior executive vice president of Barneys New York. "We'll try to curate the stores to reflect the demographics of the area. This is a local customer in the immediate trading area."
In addition to remerchandising, all Co-op re-brandings will be renovated. "The consistent thread has been about creating a simple, modern envelope for the product," Lee said.
Lee also said there are no plans for new stores other than the downtown location they've been looking for in Manhattan. "There's definitely room for a store in downtown New York," he said, adding that Barneys looked at the two major retail projects downtown, the World Trade Center and Brookfield Place, finding neither location workable. "They didn't fit the bill," Lee said, adding that Barneys would prefer a street presence. "We've looked at everything. Barneys New York is a neighborhood store. Even the Madison Avenue [flagship] is part of the neighborhood."
.png)
