BizJournals Portfolio
Home >   Business Views, Opinions and Blogs >   Business Blogs >   Fashion Inc. >  

Barneys Sold To Istithmar For 9423 Million

Fashion Inc.

by Lauren Goldstein Crowe
Main
The Barney's Bidding War Might Actually Have a Victor Soon   When Quality Shoes

Recent Blog Posts

Links

Aug 10 2007 12:00am EDT

Barneys Sold to Istithmar for 942.3 Million

Finally, it's a done deal.

But now that the sale is over, talks about how Istithmar is going to earn on their investment are just beginning, which is vital given their bid started at 825 million before Japan's Fast Retailing pushed up the price in a bidding war.

Will Barneys go international? Undoubtedly, but for the moment David Jackson, CEO of Istithmar plans to follow Jones' original plan to keep Barneys expansion within the US domestic market and are looking to possibly expand their online presence.

Other than changing ownership, it doesn't seem like Isitithmar is making many other changes in Barneys management. Howard Socol, the man responsible for Barneys success is staying on, futhering the impression that Istithmar knew exactly what they were doing.

Comments

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.


Connect With Portfolio.com
Like Portfolio on Facebook

Come on, like us—you know you want to.

Follow Portfolio on Twitter

Follow us and if you're an innovative entrepreneur, we'll return the favor.

The Mix

Today's top stories, conversation starters, and the back nine business bites.

spotlight on

Slideshows

500 Startups Hits New York

Dave McClure's brainchild makes its way to New York and introduces East Coast money folks to some intriguing new companies. View Slideshow