Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Saturday, June 23, 2007

Dubai Fashion Sense?

Forget the ports deal -- I can't get used to the idea of the investment arm of Dubai owning Barneys!  I remember when Barneys was a discount men's store owned by Barney Pressman and watched with bemusement as it transformed itself into a symbol of edgy, too-cool-for-most-of-us New York fashion.  Now Jones Apparel, struggling to remain afloat, sold Barneys for $825 million to Istithmar -- a good deal considering Jones bought the stores in 2004 about half that amount.  See WSJ, Jones Apparel to Sell Barneys To Dubai Firm for $825 Million.
 

http://lawprofessors.typepad.com/securities/2007/06/dubai-fashion-s.html

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Comments

Dubai Holdings is thinking long term and Barneys has a unique selling position. Looks like a good move to me.

Posted by: Dubai news | Jun 23, 2007 10:05:15 PM

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