The Luxury Industry Is Stagnant, And The Bosses Are Beginning To Retreat.

Department stores in the United States, especially Luxury goods Department store The recession has led many bosses to retreat. Following Neiman Marcus GroupInc. Nyman Markus's two largest shareholder seeking to quit through IPO but failed, RichardPerry New, a controlling shareholder of Barneys New YorkInc. Barnes, New York, is also planning to sell part of its shareholding.

According to the news, Richard Perry has hired Goldman Sachs GroupInc. (NYSE:GS) Goldman Sachs to find buyers. After the transaction, the hedge fund manager will still maintain the holding of Barneys New YorkInc. Barnes New York.

Richard Perry's Perry Capital LLC bought the Barneys New YorkInc. Barnes New York's $600 million debt in 2012, in exchange for the majority stake in the company, and reduced the company's debt to $50 million, while the remaining equity was owned by the Ron Burkle's Yucaipa Yucaipa and its holders. Istithmar World spent $942 million 300 thousand in 2008 to acquire BarneysNewYorkInc. Barnes New York from JonesNewYork. Shareholders are reluctant to invest more resources for the group, according to people familiar with the matter.

Source said, in the first quarter of BarneysNewYorkInc. Barnes New York's sales of the same store fell 10%, the core profit EBITDA more sharply reduced by 30%. However, the "insider" found by WWD refutes that the data is wrong, and points out that the department store is on the rise track and its performance is ahead of its peers. The most powerful business is from the online sales website and the new store opened in February last year in Chelsea. Sales in January 2016 have been roughly flat in the same period last year, compared with the same period last year, while in fiscal year 2015, they recorded a loss of more than US $5 million, and it was profitable in fiscal 2014.

Richard Perry is the chairman of the board of directors of Barneys New YorkInc. Barnes New York, chief executive officer and chief operating officer respectively, from Mark Lee and Daniella Vitale, with two from Gucci. Gucci 。 Several sources said that MarkLee had hoped to quit and let DaniellaVitale take over, but the source of WWD denied the rumor and pointed out that MarkLee would not leave in the short term.

After joining Barneys New YorkInc. Barnes in New York in MarkLee2010, he helped the Department Store recover from its economic recession in 2008. He ended the loss shop and raised revenue. Now the group has 15 Barneys New York Barnes New York boutique, 10 BarneysWarehouse discount department stores and 5 restaurants.

The industry pointed out that Barneys New YorkInc. Barnes, New York, one of the financial pressure stems from the rental of New York Madiso Avenue Madison Avenue flagship store. The 20 year lease will expire in early 2019, but real estate investors estimate that the new rent will be doubled at the end of the lease, which is estimated to be between $3000-4000.

It is reported that the group has no expansion plan now, but hopes to promote organic growth through e-commerce, refurbishment of stores and product upgrading. But the industry still thinks that Barneys New YorkInc. Barnes New York needs new capital injection to expand further expansion.

Gilbert Harrison, FinancoInc. chairman of the investment bank, predicts that Barneys New YorkInc. Barnes New York's new investors are likely to be strategic buyers in the US, and investors from Asia are not unlikely. Last month there was news that China's Ampang insurance intends to acquire Neiman Marcus GroupInc. Nyman Markus wholly-owned.