Op-Ed: How Barneys Lost Its Cool
Back in 2014, in an Op-Ed for the Business of Fashion, I rang the alarm about fashion stores losing their edge as tastemakers. I was mainly looking at Barneys, the iconic New York department store, as one that was losing its cache with the fashion-forward customer by becoming too commoditized. Fast-forward to 2019 and Barneys is now exploring bankruptcy. Theories abound as to what went wrong with the store, and there is not one single reason for Barneys possible demise – there is the crazy rent hike on its flagship, increased competition online, changing consumer tastes. But out of all commentators Lauren Sherman, of BoF nailed a big one, “Instead of owning cool, Barneys began chasing it.”