DUBAI – Reuters is reporting that Istithmar, the Dubai-based investment group that won the bidding war for Barneys New York, is planning to open five new locations in the U.S.
The investment group’s CEO David Jackson reportedly told a Dubai radio station: “We can probably open three to five stores right out of the box.” San Francisco and Las Vegas are two of the cities Jackson is looking into, according the Dubai newspaper Gulf News on Sunday. He also expressed interest in expanding the retailer’s Internet business.
Istithmar, which is run by the Dubai government, beat out their Japanese competition, Fast Retailing, with a bid of $942.3 million.
Barneys currently has stores in New York, Beverly Hills, Chicago, Boston and Dallas.