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Update: Barneys, Global Symbol of Creative Cool, Files for BK

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Frequent Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@Janus wrote:


This is somehting I just don't get, and probably never will. I just can't see paying extra for a name, T-shirts are t-shirts. A 5PK of Hanes for $15 means $285 in my pocket. Even if I ever had the income Zuckerberg does, or any Millionaire, I can't ever see myself paying that much on one item of clothing. Especially not casual wear! I have spent a decent amount on Dressy threads though, like a 3 piece. 

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.


Hmmm...I've seen people as they became millionaires (dot.com boom and IPOs) and pretty much everyone upped the level of their spending by amount and quality/luxury.  I know only 3 people who didn't.  

 

While they may look similar, the quality of material and construction of a Brunello Cucinelli t-shirt is well above that of a Hanes; this isn't just a matter of slapping on a designer name.  And while you question the wisdom of spending that much money on a t-shirt, it may turn out to be a better bargain than your "dressy threads" if you calculate cost per wear.  

Message 11 of 24
Regular Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@Janus wrote:

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.

 


You might not believe what some of those sweats cost.





Message 12 of 24
New Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@tacpoly wrote:

@CWA1984 wrote:

@pizza1 wrote:
Thanks for the post!! I think all the higher end stores are probably struggling to some degree...Neiman's, Bergdorf, Blooms, even Nordstrom (their shares just dropped drastically). Not too many folks can afford to shop at Barneys or the like's so I can't say Im too surprised to hear this.


I wonder if it's not so much that they can't afford it but they just choose not to buy it.  Times have changed since that store first opened a lot of multi millionaires and up don't dress lavishly like they did when that store first opened look at how steve jobs and zuckerberg dress...they look (or in the case of jobs looked) like average people and not billionaires.  


Don't let the casualness of those millionaires/billionaires fool you; they might be wearing Loro Piana or Brunello Cucinelli hoodies.  Zuckerberg's t-shirts are Brunello Cucinellis and cost almost $300 a piece.  Brunello Cucinelli also made Steve Jobs' turtlenecks.  Heck, even Bruce Springsteen, the working man's poet, buys stacks of cashmere sweaters.  

 

Barney's may not have customer numbers, but the customers they (and similar stores) targeted spend a lot of money. 

 

As a former Barney's shopper, I can say that Barneys lost their good buyers (the people who decide which merchandise the stores will carry) with the change in management a few years ago.  It really affected inventory, which went from really exciting and innovative to stocking what everyone else had.  I'm not a browser, but it was fun looking walking around at Barney's and discovering new designers that you wouldn't see at the other stores (that's hard to do in Manhattan).  When that stopped, I went to Barney's less often and eventually almost none at all (the same with my friends and family).  When I did go, there just weren't much I wanted to get.    


So zuckerberg spends $300 for a tshirt that with brand name that probably came out of the same factory as the same exact hanes shirt you can buy at walmart for $5?  Well what very little respect I had for Zuckerberg just completely vanished if this is true.  

Message 13 of 24
New Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@tacpoly wrote:

@Janus wrote:


This is somehting I just don't get, and probably never will. I just can't see paying extra for a name, T-shirts are t-shirts. A 5PK of Hanes for $15 means $285 in my pocket. Even if I ever had the income Zuckerberg does, or any Millionaire, I can't ever see myself paying that much on one item of clothing. Especially not casual wear! I have spent a decent amount on Dressy threads though, like a 3 piece. 

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.


Hmmm...I've seen people as they became millionaires (dot.com boom and IPOs) and pretty much everyone upped the level of their spending by amount and quality/luxury.  I know only 3 people who didn't.  

 

While they may look similar, the quality of material and construction of a Brunello Cucinelli t-shirt is well above that of a Hanes; this isn't just a matter of slapping on a designer name.  And while you question the wisdom of spending that much money on a t-shirt, it may turn out to be a better bargain than your "dressy threads" if you calculate cost per wear.  


You will never get $300 of value out of a tshirt unless you are the designer selling that tshirt.  Fast fashion is one of if not the biggest wastes of money on the planet.  A simple tare on the shirt getting caught on something or just eating spagetti for example and getting sauce spill on the shirt will stain it permanently or getting cut and bleeding on it will as well.  I'm not saying everyone should be extremely frugal but a tshirt regardless of label is still just a tshirt at the end of the day.   

Message 14 of 24
Senior Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@CWA1984 wrote:

@tacpoly wrote:

@Janus wrote:


This is somehting I just don't get, and probably never will. I just can't see paying extra for a name, T-shirts are t-shirts. A 5PK of Hanes for $15 means $285 in my pocket. Even if I ever had the income Zuckerberg does, or any Millionaire, I can't ever see myself paying that much on one item of clothing. Especially not casual wear! I have spent a decent amount on Dressy threads though, like a 3 piece. 

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.


Hmmm...I've seen people as they became millionaires (dot.com boom and IPOs) and pretty much everyone upped the level of their spending by amount and quality/luxury.  I know only 3 people who didn't.  

 

While they may look similar, the quality of material and construction of a Brunello Cucinelli t-shirt is well above that of a Hanes; this isn't just a matter of slapping on a designer name.  And while you question the wisdom of spending that much money on a t-shirt, it may turn out to be a better bargain than your "dressy threads" if you calculate cost per wear.  


You will never get $300 of value out of a tshirt unless you are the designer selling that tshirt.  Fast fashion is one of if not the biggest wastes of money on the planet.  A simple tare on the shirt getting caught on something or just eating spagetti for example and getting sauce spill on the shirt will stain it permanently or getting cut and bleeding on it will as well.  I'm not saying everyone should be extremely frugal but a tshirt regardless of label is still just a tshirt at the end of the day.   


If the obscenely rich didn't pay so much for things, the prices would be higher on the lower end too. Let the rich people pay whatever they want, it means people with low income like myself can still afford to get t-shirts. 

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Message 15 of 24
Moderator Emeritus

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy

@CWA1984  ... your entirely 'real world' on this Smiley Happy Yeah blood, spaghetti, a tare which about covers it! Smiley Embarassed

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Message 16 of 24
Valued Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@Saeren wrote:
If the obscenely rich didn't pay so much for things, the prices would be higher on the lower end too. Let the rich people pay whatever they want, it means people with low income like myself can still afford to get t-shirts. 

Guess that's one way of looking at it. Don't worry about affordable clothes too much, there's still budget friendly t-shirts out their that would make even Hanes look expensive. Smiley LOL

Message 17 of 24
Frequent Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@CWA1984 wrote:

@tacpoly wrote:

@Janus wrote:


This is somehting I just don't get, and probably never will. I just can't see paying extra for a name, T-shirts are t-shirts. A 5PK of Hanes for $15 means $285 in my pocket. Even if I ever had the income Zuckerberg does, or any Millionaire, I can't ever see myself paying that much on one item of clothing. Especially not casual wear! I have spent a decent amount on Dressy threads though, like a 3 piece. 

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.


Hmmm...I've seen people as they became millionaires (dot.com boom and IPOs) and pretty much everyone upped the level of their spending by amount and quality/luxury.  I know only 3 people who didn't.  

 

While they may look similar, the quality of material and construction of a Brunello Cucinelli t-shirt is well above that of a Hanes; this isn't just a matter of slapping on a designer name.  And while you question the wisdom of spending that much money on a t-shirt, it may turn out to be a better bargain than your "dressy threads" if you calculate cost per wear.  


You will never get $300 of value out of a tshirt unless you are the designer selling that tshirt.  Fast fashion is one of if not the biggest wastes of money on the planet.  A simple tare on the shirt getting caught on something or just eating spagetti for example and getting sauce spill on the shirt will stain it permanently or getting cut and bleeding on it will as well.  I'm not saying everyone should be extremely frugal but a tshirt regardless of label is still just a tshirt at the end of the day.   


Brunello Cuccinelli is very far from fast fashion.  While you may think $300 is a ridiculous amount of money to spend on a t-shirt, maybe if you have Zuckerberg’s stash it wouldn’t be. And maybe Zuckerberg likes the softness and weight of the cloth and the custom fit. Just because you don’t put any value in Cuccinelli shirts doesn’t mean they don’t have any. 

Message 18 of 24
Moderator Emeritus

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy

In looking at the latest release of store closing for department stores, we might just be opening a new door to back to basics where spinning fabrics and making our own clothing will be an option. Since it may be harder to find clothing we desire, create local niche jobs for people to make clothing. Where I live it is too cold to wear Fig Leaves so some form of attire will be necessary Smiley Sad Old adage: "when one door closes another one door opens" ... Smiley Happy

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Message 19 of 24
New Contributor

Re: Barneys the latest dinosaur of retail sector to explore bankruptcy


@Saeren wrote:

@CWA1984 wrote:

@tacpoly wrote:

@Janus wrote:


This is somehting I just don't get, and probably never will. I just can't see paying extra for a name, T-shirts are t-shirts. A 5PK of Hanes for $15 means $285 in my pocket. Even if I ever had the income Zuckerberg does, or any Millionaire, I can't ever see myself paying that much on one item of clothing. Especially not casual wear! I have spent a decent amount on Dressy threads though, like a 3 piece. 

 

I too have noticed that people don't dress up like they used to. Kind of a shame really, in nice places you get someone wearing sweats/pj's.


Hmmm...I've seen people as they became millionaires (dot.com boom and IPOs) and pretty much everyone upped the level of their spending by amount and quality/luxury.  I know only 3 people who didn't.  

 

While they may look similar, the quality of material and construction of a Brunello Cucinelli t-shirt is well above that of a Hanes; this isn't just a matter of slapping on a designer name.  And while you question the wisdom of spending that much money on a t-shirt, it may turn out to be a better bargain than your "dressy threads" if you calculate cost per wear.  


You will never get $300 of value out of a tshirt unless you are the designer selling that tshirt.  Fast fashion is one of if not the biggest wastes of money on the planet.  A simple tare on the shirt getting caught on something or just eating spagetti for example and getting sauce spill on the shirt will stain it permanently or getting cut and bleeding on it will as well.  I'm not saying everyone should be extremely frugal but a tshirt regardless of label is still just a tshirt at the end of the day.   


If the obscenely rich didn't pay so much for things, the prices would be higher on the lower end too. Let the rich people pay whatever they want, it means people with low income like myself can still afford to get t-shirts. 


That would be a good argument for who pays the most in taxes supporting government services.  However, for clothing and retail this really isn't the case.  I highly doubt Dollar Tree cares about the spending habits of the ultra rich since that is not their customer base.  I also doubt Brunello Cucinelli or any other designer selling overpriced clothing cares what the poor and working class spending habits are since that is not their customer base.  

 

Now with that said people can spend money how they want since it is their money.  However, just cause they can spend there money on whatever they want doesn't mean myself or others can't view some of there spending habits as rather stupid.  

Message 20 of 24
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