Seven & i Buys into Barneys Japan

Seven & i Holdings Co. Ltd. (Tokyo) has become a 45 percent partner of Barneys Japan Co. Ltd., which operates under a licensing agreement with Barneys New York in the U.S. to use the Barneys name on its doors and private-label merchandise.

The investor, which owns the 7-Eleven convenience store chain and Seibu department stores, among others, is the fifth-largest retailer in the world.

In acquiring its share of Barneys Japan, Seven & i bought out the entire stake of Tokio Marine Capital, one of the early investors in the venture. Sumitomo Corp., which joined with Tokio in 2006 to acquire Barneys Japan from department store operator Isetan Co. Ltd., retains the 50.01 percent majority stake.

Barneys currently has a network of 10 stores in Japan, including five outlet stores.