Venetian Adds NY Flavor

Besides Barneys, the players in this latest Vegas shopping extravaganzainclude the overall developer itself, Las Vegas Sands Corp., and GeneralGrowth Properties. The Sands Corp. owns the Venetian, the Sands Expo andConvention Center, the Sands Macao in the China, and the Chicago-basedGeneral Growth REIT is one of the country's largest owners, operators anddevelopers of shopping centers.

The Shoppes at the Palazzo is scheduled to open in the summer of 2007. The85,000-sf Barneys will anchor the 450,000-sf retail venue, which GeneralGrowth Properties will own after it is completed. General Growth already ownsthe Grand Canal Shoppes at the Venetian.

The new retail development will be part of a $1.6 billion Palazzo Resort HotelCasino that will feature more than 3,000 all-suite rooms. The Shoppes at thePalazzo will be connected to the Venetian via the Grand Canal Shoppes andwill include six new restaurants and approximately 80 high-end and mid-levelstores. The Sands Corp. says the roster of retailers will range from "themost recognizable brands to the hottest newcomers and unique one-of-a-kindboutiques." The Palazzo will also feature an 1,800-seat theater that will bedesigned to host major productions and Broadway shows.

Barneys had been exploring the possibility of expansion into the Las Vegasmarket for some time, according to Howard Socol, chairman and CEO of thecompany. He calls the Barneys flagship at the Palazzo "the first fashionspecialty store of significant size and scope within a Las Vegas resort."

The Sands Corp. and General Growth are billing the new Palazzo shops as avenue comparable to upscale shopping districts like Rodeo Drive and Bel Air.Robert Goldstein, president of the Venetian and the Palazzo, says the casinoresorts are looking forward to introducing Barneys' familiar red awningsand window displays to the Strip.

The Barneys store will be the third new flagship announced by the company,which is a wholly owned subsidiary of Jones Apparel Group Inc. Barneys openeda new flagship in Copley Place in Boston on March 10 and recently announcedthe opening of another such location scheduled for a fall opening in NorthPark Center in Dallas.