REAL ESTATE

Barney’s plans new Manhattan flagship in 2017

BY Dan Berthiaume

New York – Barney’s New York plans to open a flagship in the Chelsea neighborhood of Manhattan in 2017. The downtown store will consist of five floors totaling close to 57,000 sq. ft. and be located on the site of a former Barney’s flagship on Seventh Avenue that was open from 1923-1998.

The new Barneys will have 200 ft. of frontage running along the majority of the Seventh Avenue block and wrapping the corner of 16th Street. The interior will maintain an aesthetic consistent with the recent renovations of the Madison Avenue store, which emphasize a modern, open, gallery–like feel. The Barneys New York downtown store will carry men’s and women’s designer clothing, shoes, and accessories, and will feature a Foundation level for cosmetics, skincare, and fragrances. Preliminary plans also include a Freds restaurant on the uppermost retail floor.

"Today’s announcement represents the realization of our long-standing goal of returning to downtown with a substantial location," said Barneys New York CEO Mark Lee. "The opportunity to revitalize our presence with a state-of-the-art store on the same street where the company served customers for 75 years only enhances that plan. We believe the robust and growing downtown market is under penetrated in terms of a larger specialty retailer, and we look forward to serving these customers again with what we anticipate will be one of our most important stores."

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REAL ESTATE

Cabela’s to open in Fort Mill, S.C.; plans 20 new stores in two years

BY Dan Berthiaume

Sidney, Neb. – Cabela’s plans to open a new store in Fort Mill, S.C., a suburb of Charlotte, N.C. Construction on the 97,500-sq.-ft. store is scheduled to begin in 2014 and Cabela’s anticipates a spring 2015 opening.

It will be Cabela’s second store in South Carolina, joining the Greenville location scheduled to open in spring 2014. The company also recently announced plans to open a store in Garner, N.C., in 2015. Currently, Cabela’s operates 50 stores across North America with plans to open an additional 20 during the next two years.

“The overwhelmingly positive response to our recent Greenville and Garner announcements, coupled with the passion North and South Carolinians have for outdoor recreation, encouraged us to open a store in Fort Mill,” said Tommy Millner, Cabela’s CEO. “We are thrilled to get to work on the project and look forward to opening the doors.”

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Report: Tesco plans India supermarket entry

BY Dan Berthiaume

Cheshunt, England – British supermarket and general merchandise retailer Tesco plc has reportedly applied to the Indian government for permission to buy a 50% stake in the Indian hypermarket chain Trent Hypermarket Ltd. According to Reuters, Tesco wants to open stores in western India and would become the first foreign retailer to open a supermarket in India.

Tesco would initially invest $100 million. India has long forbid foreign companies from holding a decision-making stake in supermarkets there, but loosened restrictions in late 2012. However, there are still strict laws in place requiring local sourcing of at least 30% of all goods, which is one reason Wal-Mart dissolved a partnership with Indian firm Bharti Enterprises in October 2013 and delayed plans to expand its presence in India.

Tesco and Wal-Mart have both had a small presence in India through minority partnerships with local retail chains for several years and have been lobbying the Indian government to make it easier for foreign firms to invest in supermarket businesses there.

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