But last week reports emerged that Barneys might be headed toward bankruptcy, a fate partially triggered by a hike on its $16m a year lease to $30m. Barneys’ collapse would come as a significant, symbolic blow in a retail environment littered with them. “I’m not coming here as much,” said Olivia Shoy, a 28-year-old shopper standing outside the Madison Avenue store. “Customers are no longer buying fashion season-to-season just to stay relevant,” says luxury retail analyst Hitha Herzog. Outside Barneys last week interior designer Rosemary Hallgarten said she would stick with tradition.

Source: The Guardian July 20, 2019 04:52 UTC