NEW YORK -- Barneys New York has announced the scheduled opening of a Barneys New York flagship store as part of the expanded Venetian Resort Hotel complex to include the new Palazzo Resort Hotel Casino
Artist's rendering of the planned Palazzo Las Vegas. currently being constructed next to the Venetian on the Las Vegas Strip, both owned by Las Vegas Sands Corp. (NYSE: LVS). The approximately 85,000 square foot location is scheduled to open in Fall of 2007 and represents the third new flagship announced by the company. Barneys opened a new flagship in Copley Place in Boston on March 10, 2006 and recently announced the opening of another such location this Fall in North Park Center in Dallas.
Howard Socol, Chairman and Chief Executive Officer of Barneys, stated, "The new location at The Shops at The Palazzo will not only bring the excitement of the Barneys New York flagship shopping experience to Las Vegas, but will also represent the first fashion specialty store of significant size and scope within a Las Vegas Resort. We have been exploring the possibility of expansion into the Las Vegas market for some time and The Palazzo presents us with a truly unique opportunity to be part of one of the most luxurious casino resorts in the world. We are thrilled to be working with both Las Vegas Sands Corp. and General Growth Properties to create an extraordinary retail experience to complement the resort."
Mr. Socol continued, "Customers visiting the Las Vegas flagship can expect to find an assortment of men's and women's apparel, accessories, shoes and cosmetics reflective of what is carried in our existing flagships in New York, Beverly Hills, Chicago and Boston." He also added, "We are continuing to explore expansion of both our flagship and CO-OP concepts in other markets as well."
Barneys New York, a wholly owned subsidiary of Jones Apparel Group, Inc., is a luxury retailer with flagship stores in New York City, Beverly Hills, Chicago and Boston. Barneys also operates three regional full price stores, nine CO-OP Barneys New York stores, twelve outlet stores and two semi-annual warehouse sale events.
Jones Apparel Group, Inc. (www.jny.com), a Fortune 500 company, is a leading designer, marketer and wholesaler of branded apparel, footwear and accessories. We also market directly to consumers through our chain of specialty retail and value-based stores, and operate the Barneys New York chain of luxury stores. Our nationally recognized brands include Jones New York, Evan-Picone, Norton McNaughton, Gloria Vanderbilt, Erika, l.e.i., Energie, Nine West, Easy Spirit, Enzo Angiolini, Bandolino, Joan & David, Mootsies Tootsies, Sam & Libby, Napier, Judith Jack, Kasper, Anne Klein, Albert Nipon, Le Suit and Barneys New York. The company also markets costume jewelry under the Givenchy brand licensed from Givenchy Corporation and footwear under the Dockers Women brand licensed from Levi Strauss & Co. Each brand is differentiated by its own distinctive styling, pricing strategy, distribution channel and target consumer. We primarily contract for the manufacture of our products through a worldwide network of quality manufacturers. We have capitalized on our nationally known brand names by entering into various licenses for several of our trademarks, including Jones New York, Evan-Picone, Anne Klein New York, Nine West, Gloria Vanderbilt and l.e.i., with select manufacturers of women's and men's products which we do not manufacture. For more than 30 years, we have built
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