Barneys May Be Sold To Middle Eastern Fund

Speculation mounts that the legendary and loved retailer Barneys may end up in the hands of a foreign owner. Not just any foreign owner, but a Middle Eastern foreign owner. Women's Wear Daily reports that a fund in Qatar is willing to pay $1 billion, nearly $200 million more than US bidders. The New York Post says they're from Dubai.

In either case, it is hard to hear the words "Middle Eastern" and "legendary retailer" and not think about the fuss when Mohammad Al-Fayed bought Harrods in 1985 and ended up in a long-lasting legal battle with Roland "Tiny" Rowland. Despite the handwringing over changes he might make and a plethora of stories about his somewhat strange management style (he chews through CEOs at a fantastic rate and the Egyptian room still raises eyebrows), Harrods continues to be one of London's strongest retailers (particularly when you get off the ground floor). Not just for tourists, but for Londoners who still count on it to find the hardest to find things, and are happy to pay a premium for the luxury one-stop-shopping for everything from donuts to Wellingtons. Although an executive at a rival shop said that London's jewish shoppers now go to Selfridge's instead.