Accessories include Givenchy, the Barneys New York collection, Lanvin, Henri Cuir and Miu Miu. A separate Valextra shop sells the Italian brand's leather goods.

Jeffrey Hutchinson, who designed the store, said, "Barneys doesn't do cookie-cutter stores." The focal point is a grand elliptical staircase. "The materials are very sophisticated," he said. "We used a lighter palette, oak, teak and sycamore. Some of the fixtures are sculptural, almost Giacometti-like."

Barneys is particularly bullish on the jewelry business, as evidenced by the amount of space given over to the category. In addition to a large selection of fine jewelry on the ground floor featuring designers such as Linda Lee Johnson and Cathy Waterman, a jewelry mezzanine offers Frederica Rettore, Lucifer Vir Honestus, Rene Lewis and Sharon Khazzam. "If you're a Russian oligarch, you can come up here with your wife or girlfriend for privacy," observed Doonan.

"The jewelry assortment reaches a lot of different levels," said Socol. "We've added some zest."

Barneys' characteristic wit and humor greets customers on the second floor, where a large giraffe made out of jeans stands sentry in front of the Co-op. Here, designers such as Diane von Furstenberg, Marc by Marc Jacobs, Alexander Wang and Helmut Lang can be found along with Rogan, Mayle and Loomstate for Barneys New York. Turn the corner and there's Pucci and Fabucci.

Designers include Lanvin, Marni, Balenciaga, Giles Deacon, Vionnet, Prada, Stella McCartney and Fendi. There's also L'Wren, Burberry Prorsum and Nina Ricci. Fashion runs the gamut from a white leather and lace Jean Paul Gaultier jacket, for $5,495, to a Proenza Schouler beaded dress, $7,500.

The shoe department "might be our biggest ever," said Doonan. It features the usual suspects such as Manolo Blahnik, Christian Louboutin and Prada, as well as Chloé, Lanvin and Azzedine Alaïa.

The store is emphasizing service, with two concierges and three personal shopping suites outfitted with leather club chairs and flat-screen TVs.

Barneys officially opened on Thursday, but many of the stores in the adjacent Palazzo Shoppes are not open. A spokeswoman for the property said the mall is more than 90 percent leased. Several retailers are opening their first Las Vegas stores at the Palazzo, including Tory Burch, Van Cleef & Arpels, Diane von Furstenberg, Chloé, Christian Louboutin, Catherine Malandrino, Anya Hindmarch, Lambertson Truex, Michael Kors and Poleci. General Growth Properties is in the process of acquiring the Palazzo's retail component.