For Sale?

barneys While they may be in the midst of one of their massive warehouse sales in New York (through March 1), Barneys itself is rumored to be open for bidders. According to reports, Istithmar World — the Dubai-based investment firm owned by their royal family — wants to sell the luxury retailer just two years after they bought it. One glitch: they won’t settle for anything less than the nearly $1 billion they shelled out on it. Seems as if the slowing luxury market is not jiving with Istithmar’s overall growth plan and the Emiratis want to keep the cash close to their kaffeiyas. Gonna be a tough sell.

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One Response to “For Sale?”

  1. Vanessa Spann Says:

    gosh … i guess times are hard all over … even in super posh dubai. somehow though i am they are holding firm and won’t turn barney’s into a bargin bin sale.

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