The Authentic Brands Group has won the battle for the intellectual property of Barneys New York in a reported cash deal of $271.4 million. ABG, which wants to develop the famous American retail brand internationally, especially in Asia, has appointed Saks Fifth Avenue as its retail licensee for the U.S. and Canada. However, all its seven stores in the U.S. are slated to be closed. Steve Madden had been among the bidders for Barneys. ABG has formed a stable of about 50 brands. It recently acquired Nine West, Bandolino and Freye.

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