Brilliant British designer Sir Paul Smith (right) is teaming up with Barneys New York to launch an exclusive new limited edition menswear collection. Titled simply "Exclusive", the line of suiting, separates and shirting was designed with the urbane Barneys New York customer in mind and will only be available at Barneys flagships.

Manufactured in Italy using Italian and British cloths, Paul Smith Exclusive has a modern, tailored silhouette, "finished with the design twists and styling details that have become synonymous with the Paul Smith brand," such as colorful linings.

Suits feature subtle stripes and Prince of Wales checks on gray and navy grounds, while shirting is bright with striped and checked designs on white bases. Velvet evening jackets and weekend sport coats complete the exclusive and extremely natty collection. Smith also just opened a new store in San Francisco.

Last month luxury department store chain Barneys New York got a much needed cash infusion but it may not be enough to save two of its seven stores. The Wall Street Journal says that the company, which is owned by Dubai's Istithmar World, is seeking to close the stores to save money but the real reason may be that one of the stores is proving to be a dud.

One of the stores is the 85,000-square-foot location at the Shoppes at the Palazzo in Las Vegas. Barneys is the anchor of that complex which opened last year in an area clustered with luxury retailers. Barney's had hoped to generate $6 million at that location but with the huge downturn in Las Vegas travel the store has been only brought in around a quarter of that.

Should Barney's close that store it would leave a huge hole in the shopping area that would not be easily filled and so the store may have some trouble getting out of its lease. Also the Shoppes at Palazzo is owned by General Growth Properties which recently filed for Chapter 11 bankruptcy. Overall, business at the Shoppes seems to be pretty slow. It is a newcomer in a packed area that has several key shopping locations including the Forum Shops at Caesar's Palace. Barneys New York's competitors, Neiman Marcus, Bloomingdales and Nordstrom are located at the Fashion Show Mall on the Strip.

The location of the other store to be closed hasn't been determined yet. Barneys cancelled plans for a restaurant in its Dallas store earlier this year.

Luxury department store Barneys may be the next big brand seeking a buyer. The Dubai-based investment fund Istithmar World which bought the retailer less than two years ago is looking to sell. Bloomberg reports that Istithmar wants to sell for the same $942.3 million it paid in September of 2007. Of course things were a little different then and some say that it's ludicrous to expect the same price now. Luxury department stores have been suffering in recent months with both Saks Fifth Avenue and Neiman Marcus reporting major sales declines and laying off workers.

Some say that Istithmar World is looking to raise ready cash and the state-owned fund is willing to sell its entire stake. Dubai's rapid real estate expansion and declining oil prices have put the country in deep debt.

Barneys has had a history of ups and downs. The store was founded by Barney Pressman in 1923. The Pressman family lost control in 1998 and the company flirted with bankruptcy.Jones Apparel Group Inc. for $294.3 million in 2004, a number that seems small considering what they were able to sell it for a few years later. Istithmar would have to hold on to the brand for a long time to get a similar return on its investment. The news comes just as Barneys has been in the news for creating window displays celebrating designer Isabel Toledo, the designer of Michelle Obama's inauguration outfit.

Think of the holidays and of all the images that come to mind I bet none of them are the famous hippie symbol of Peace, but this holiday season Barneys is celebrating the 50th anniversary of the peace sign with an exclusive collection of Nixon watches all featuring a Happy Hippie theme. Designs include watch bands made of hand-stitched hemp, hand-stamped leather, and even one limited-edition version designed by Gabriel Urist that has a band of sterling silver with coral and turquoise inlays. The watches are available only at Barneys CO-OP stores (click here to find one near you) and prices range between $500 and $8000.

As part of Barneys New York's 1960s Peace & Love "Hippie Holiday" theme, cooked up by creative director Simon Doonan, the store is offering a special set of Volkswagen Beetle cufflinks. The links, designed on behalf of a holiday partnership between Barneys and Volkswagen by the Caroline Collection, are modeled on the iconic 1967 Beetle. The whimsical "antiqued" cufflinks (above) are made of sterling silver and enamel in various colors and will retail for $550.00 a pair. Commenting on his adoption of the hippie theme, Doonan noted, "We only picked the cheery, upbeat aspects of the '60s! No overdoses or assassinations."

Most of us have a collection of T-shirts we no longer wear. Now instead of donating them to the thrift store you can take them to Barneys. Barneys New York, the Sundance Channel and the eco-chic fashion brand Loomstate have created a national T-shirt recycling program that will start on April 13. Drop off the old shirts Loomstate will "re-fashion" the T-shirts (re-style, re-dye, re-print, etc.) as part of a new, limited edition T-shirt collection which will be sold exclusively at Barneys for Holiday 2008. Those who drop off a shirt will receive a 20% discount on women's Loomstate for Barneys Green and men's Loomstate merchandise from April 13-27. Proceeds from the program will benefit 1% for the Planet.

Barneys New York always has the most stylish new accessories, so it comes as no surprise that their dog section is also to die for. This chic collar by Stray is perfect for any designer pooch or lovable mutt. Available in three sizes, with the words LEADER OF THE PACK spelled out in nickel studs, these handmade leather collars are available for $355 on the Barneys New York website. Stray dog accessories are made in Paris, by designer Venetia Rudland, who spent years as a designer at the Hermès ateliers making their famous bags.

If this bag were made of leather, it might seem too stiff and structured. But the fact that it is made with velvet certainly softens my perception of it. I love the muted colors and the contrasting stripes, but most of all I love the pretty gold-tone details - delicate little "R's"dangling beneath the hinged frame,which opens wide for total access to the interior of the bag. Inside, it's lined in leather and features a large zippered pocket. Also available in a camel/gray combination, the bag sells for $3,2000 at Barneys.

Anthony Nak is known for creating some wonderful pieces of jewelry that have caught the eye of many people from Hollywood to the White House. This Texan duo has been creating jewelry together since 1998 and today are carried at numerous fine retailers nationwide. However, today's treasure is available from the ever-discriminating Barneys New York. These lovely earrings are handcrafted from 18kt gold and blue Thai sapphires. With pale blue hues, these bobbles make for a lovely addition to a loved one's Easter Basket.