According to news reports, Barneys New York, an American chain of luxury department stores, is considering Getty ImagesEarlier this week, reports emerged that Barneys New York might again be headed toward bankruptcy. In many ways, Barneys is less a luxury department store and more a specialty boutique on steroids. Maturing luxury market. Aside from Barneys' specific issues, any turnaround would need to be executed in an evolving, rapidly maturing luxury fashion market. Newer brands like Net-a-porter and Farfetch, along with digitally native brands like Glossier and many more, are chipping away at segments of Barney's business.

Source: Forbes July 18, 2019 00:15 UTC