By MICHAEL BARBARO and ANDREW ROSS SORKIN
The clothing retailer Barneys New York, a temple to fashion that introduced Americans to Armani and $300 T-shirts, was sold today to the investment arm of the Dubai government for $825 million. ...
Barneys, founded in 1923 as an off-price men’s suit store, has become a prized asset in fashion, renowned — and at times parodied — for sparse displays, obscure designers and aloof sales clerks.
Despite its glossy reputation, Barneys’ roots are rather humble. Besides selling his wife’s ring to pay for his first store on 17th Street, the founder, Barney Pressman, bolstered his inventory with the suit collections of deceased Manhattan doyennes, which he found by reading the obituaries.
That was the Barney's I knew and loved, well before it went offscale upscale. When I could get it for you wholesale. Dubai? Feh.
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