Several brands have reportedly leased new spaces in the Madison and Fifth Avenues area of New York City.
The brand is said to have leased 3,200 square feet next to Celine at 650 Madison Avenue, with Dior set to move to 767 Fifth Avenue. BAPE, meanwhile, is said to have leased a 1,202 square-foot space at 650 Madison Avenue, next to the new Balmain space.
Balmain, notably one of the brands affected by the bankruptcy of Barneys earlier this year, is "among the first" to move toward a stand-alone spot. The Post said in their report, however, that other affected labels are still looking into the idea.
It was announced in November that Authentic Brands Group and B. Riley Financial had acquired Barneys New York for a reported $271.4 million. In a statement, Kith investor Sam Ben-Avraham—who had attempted to save Barneys—confirmed that he and his team had decided to pull out of the race.
"Unfortunately, we failed to convince enough people in the business community that it made economic sense to keep Barneys alive," Ben-Avraham said at the time.
In related news, BAPE is currently celebrating the opening of a new store in Miami, Florida: