Barneys Co-Op is no-more for Philadelphia- and other locations across the country. But the store isn't necessarily closing.
The New York-based luxury retailer is converting its remaining Co-Op stores to "Barneys New York" locations, CEO Mark Lee told WWD in a new report published Wednesday.
The industrial-style Co-Ops, which accounted for 10-15 percent of Barneys total sales in 2010, has in recent years shuttered "underperforming" spots with six Co-Op spots closed between 2011 and 2012.
“We’re looking at our other seven [Co-op] stores,” Lee told WWD, including the Philadelphia location. “What’s left — they pretty much are keepers” he added.
A Barneys New York rep told Philly.com Wednesday morning that the company has "NO intention to close the Philadelphia store." She continued, "After completing the first three Co-Op conversions to Barneys New York stores in 2013, we will focus our efforts on the remaining stores in 2014, including Philadelphia."
The Philadelphia Barneys (1811 Walnut St.) opened in Rittenhouse Square in 2009. Shoppers frequent the spot to find brands like Rag & Bone, Vena Cava and Alexander Wang. "We anticipate the Philadelphia customer will respond well to our enhanced merchandise selection and improved store environment when the conversion is completed," the rep added.
What brands would you like to see included as part of Barneys' "enhanced merchandise selection?" Share below.