Looks like you won't be buying an any Prada products from Barney's Anymore....

According to the WSJ,

Barneys New York Chief Executive Mark Lee says Prada is no longer selling any new goods but shoes and menswear at Barneys in what he said was fallout from a spat over pricing and inventory control.

Mr. Lee says Prada asked to operate under a "concession" model, in which the brand leases space from the retailer, but controls its own inventory and markdowns. Mr. Lee says Barneys rejected the request, and that Prada then decided not to sell its wares there anymore in certain categories.

Barneys' flagship space formerly devoted to Prada will soon be occupied by the French designer Azzedine Alaia.

Prada didn't immediately respond to requests for comment.

In a statement, a Barneys spokeswoman said: "Prada has been and continues to be an important vendor for Barneys New York" and that while Mr. Lee supports the decision, it was made prior to his arrival. She added that the decision "stemmed from the unwillingness of Barneys to consider leased departments. Barneys stands by the no vendor leased space still today enabling us to retain our point of view in our stores."

Mr. Lee made his comments in an interview Friday, in which the low key executive disclosed some of his plans to revamp the iconic but struggling luxury retailer.

Mr. Lee said that Barneys' focus continues to be on obtaining "exclusives" with designers, meaning that consumers cannot find the products anywhere else. But he acknowledged that in 2011, when many luxury brands have grown to be $1 billion-plus businesses, this will be a difficult challenge.

He has also laid out the largest renovation budget for existing stores that Barneys has seen since the late 1990s, as well as an overhaul of its website.


-Rachel Dodes