Remember last week when we waxed on about how Barneys New York desperately needed a new owner? Well, apparently, rich guy Ron Burkle wants to buy the struggling upscale retailer. Burkle has invested in everything from the Pittsburgh Penguins to Sean John in the past, and last December he bought a big chunk of the company's debt. He wants to pitch in another $50 million, which would give him control of 80% of the company. While Burkle doesn't know much about luxury, he does know a lot about retail, so this might be a good fit. His people can take care of the finances while the creatives at Barneys can keep doing what they do best.
Who Wants to Buy Burberry? (As in the Entire Company)
Burberry is one of the few independent luxury brands in the world, and it also happens to be one of the most successful. After years of struggling to take back its plaid from British chav culture, CEO Angela Ahrendts and creative director Christopher Bailey have molded Burberry into a label of which everyone wants a piece. Now, it seems that someone is looking to scoop up the whole thing. Reuters reports a rumor that an undisclosed bidder wants to buy the brand for nearly $10 billion. (It's current value on the stock market is around $8 billion.) If it's true, who could it be?