J.Crew will be acquired by two investment firms for $3 billion, according to a document released moments ago by the preppy-chic retailer. (We first reported on this Monday night–click here for some background.)
This will allow CEO Mickey Drexler and co. to fix what’s wrong with the business–and build on what’s right–without having to deal with public shareholders.
“It is a clear endorsement of J.Crew and of the hard work and commitment of each and every one of our associates,” Drexler said of the agreement. “As I have always said, we are in this for the long term and we do what we do day in and day out so we can deliver the best possible products to our customers.”
Frank Muytjens’s latest collaboration for J. Crew is with legendary US snearker company, New Balance. The special edition 1400 sneaks (available at the NYC Liquor Store starting Nov 1) are in two never-before-seen colorways- navy, and moss green suade. The kicks will be manufactured in NB’s Maine factory.
“J.Crew associate themselves with heritage in define their collection on the such product. The look at the J.Crew Fall/Winter 2010 Collection with this impressive lookbook epitomizes their heritage influence and we see some really great outerwear combined with knitwear and relaxed tailoring matched with denim and chino’s.”
Filed under: Fashion, Market Info | Tags: Innovation, J. Crew, Jenna Lyons, Jenna´s Picks, Retail
An interesting perspective and some wise words from J. Crew creative boss, Jenna Lyons:
“We’ve just seen an insatiable appetite for nail polish, so we’re looking at other things we can do for women. Women want candy. Someone else said this: “Ask a woman what her favorite thing in her closet is, and she’ll pick the thing she bought yesterday; ask a man, and he’ll pick the thing he bought 40 years ago.” So for men’s, we’re looking into heritage pieces. One is an old coat factory, and one is another American classic shoemaker. What we’d really like to do, especially for women’s, is a shoe collaboration where we maybe go to someone like Manolo Blahnik or Christian Louboutin. Gap did a great job doing that with Pierre Hardy, I thought. Women’s is just harder. Would I love to sell Chanel bags? Sure. Would they let us? No.”
Our conclusions: men love heritage and women love novelty…?
Another interesting story about J.Crew and its loyalists…
This shouldn’t come as a shock: It’s a bleak time for retailers. Stores have gone out of business, 70% off sales have become de rigueur and women are shopping in their closets rather than whipping out their credits cards to spend.
But while most retailers have been suffering through this millennium’s version of the Great Depression, J.Crew is having its golden era. First Lady Michelle Obama wore J. Crew while gabbing on Jay Leno’s couch in 2008 and the first daughters donned Crewcuts, a children’s line, to the inauguration. J.Crew’s creative director, Jenna Lyons, has taken on fashion icon status comparable to the likes of superstar designers like Donna Karan and Miuccia Prada (“Jenna’s picks,” which are updated monthly on JCrew.com, often sell out)…
Filed under: Fashion | Tags: Clothes, Fashion, J. Crew, Rogues Gallery, timex
J. Crew has just put the wraps on a fantastic new Spring/Summer collection with the help of brand partners including Rogues Gallery, Red Wing, Alden, Timex, Mister Freedom and Baracuda. Look forward to seeing this stuff in shops…
Filed under: Fashion, Stores | Tags: barbour, J. Crew, Levi´s, The Moment, Vintage
Frank Muytjens, the VP of mens design for J. Crew, recently had an interview with The Moment about current and future directions for the brand. The main topic of the talk surrounded the new collaboration between J. Crew and Levi´s Vintage, which will involve a limited number of special jeans being sold through the retailer. The interview also includes getting to the bottom how how Muytjens is involved with the actual in-store set up and buying.