Though Barneys has been aggressively building its online business, the luxury retailer is not about to neglect its brick-and-mortar operations.
“Over 60 percent of Millennials shop the physical store,” Daniella Vitale, chief executive officer of Barneys New York, said Tuesday at Fast Company’s “Innovation Festival” at the 92nd Street Y in Manhattan.
Vitale’s main message was that Barneys’ brick-and-mortar is innovating with immersive experiences such as The Drop, held last June at the Beverly Hills store and last fall at the Madison Avenue flagship in New York.
Vitale shared the Fast Company stage with Russell Wallach, president of Live Nation Media and Sponsorship. They addressed such subjects as wooing younger customers, partnerships and the need to offer engaging experiences, with Mark Wilson, a senior editor at Fast Company, moderating the discussion.
“The Drop will evolve into something else next year,” Vitale said, while avoiding to specify what’s in store. At the Beverly Hills store, it was a weekend of designer appearances, exclusive capsule collections, installations, panel discussions and a surprise performance by Wu-Tang Clan presented by Live Nation.
“It’s completely not true” that younger shoppers have been abandoning stores in favor of shopping online, Vitale stated, though she acknowledged more must be done to attract