Barneys is ramping up its liquidation sale discounts in time for Black Friday - but it still doesn't include brands like Louis Vuitton and Fendi
Bethany Biron/Business Insider
- Barneys New York is increasing its liquidation sale discounts to up to 35% starting on Wednesday and running through Black Friday and the following weekend.
- The higher discounts come after the luxury department store posted meager deals at the beginning of the month, of just 5-10%, which led some shoppers to speak out about the store's "preciousness" on social media.
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After Barneys' meager liquidation sale left much to be desired earlier this month, the luxury department store is ramping up its discount percentages in time for Black Friday.
Starting on Wednesday, the luxury department store will increase discount rates to an average of 30-35% on all products except for LVMH-branded goods, according to a spokesperson for B. Riley Financial, the firm overseeing the Barneys liquidation. These discounts are a significant uptick from the 5-10% seen in previous weeks, which led some shoppers to take to social media to scoff at Barneys' "preciousness" and decry its reputation of exclusivity.
The sale, which will take place both in stores and online, will run through Black Friday and the subsequent weekend. In a statement to Business Insider, the B. Riley Financial spokesperson said that "virtually every item across all departments is included in the Barneys store sale," which constitutes about 95% of the store's total inventory.
The discounts include luxury items "which rarely ever go on sale," the spokesperson said, while the Barneys website homepage claims "designer brands discounted like never before!"
Still, the sale excludes any product that hails from one of the 75 brands within the LVMH brand portfolio - including Christian Dior, Louis Vuitton, and Fendi, among others - thanks to a bargain made between the luxury conglomerate and Barneys in advance of the Chapter 11 bankruptcy proceedings, the spokesperson said.
Barneys officially sold to Authentic Brands Group on November 1, marking the end of a contentious bidding war for the beleaguered department store, which first filed for bankruptcy in August. As part of the deal, Barneys announced it would close all remaining stores, with the exception of the New York City flagship store, which once liquidated will be converted into a pop-up retail experience. The Barneys brand name will be licensed to Saks Fifth Avenue.