J CREW news and archive

Fashion industry unveils financing scheme for cotton decarbonisation

The fashion industry has launched an ambitious programme to incentivise sustainable cotton production, signalling a shift towards collaborative efforts in tackling supply chain emissions. The Unlock Programme, developed by The Fashion Pact and sustainability consultancy 2050, aims to provide financial incentives for farmers to adopt lower-impact...

Fashion

J.Crew teams up with USA Swimming

American retailer J. Crew has unveiled a limited-edition collection with USA Swimming ahead of the Summer Olympics in Paris. The USA Swimming x J.Crew collection celebrates the retailer’s heritage of a coastal lifestyle and takes inspiration from vintage swimming graphics and 90s beach apparel. The collection features apparel and accessories...

RetailFeatured

Does the middle market fashion consumer still exist?

New York - In their heyday, middle market mall brands reigned as royalty in American fashion and retail. The Gaps, Banana Republics, and J. Crews of the world were go-to apparel stores for those looking for everything from something casual to hang out with their friends to more formalwear in the case of Banana Republic and J. Crew. In the rising...

People

Mickey Drexler, the former Gap and J. Crew chief, appointed CEO of Alex Mill

Mickey Drexler, the former heavyweight boss at Gap and J. Crew, has been appointed CEO of Alex Mill, the company founded by his son. Drexler, who famously turned around a stale J. Crew in the early oughts after having made the Gap a fashion destination, had a magic touch revamping both businesses with his eye for detail, but left after the...

PeopleFeatured

J.Crew Group makes slew of appointments to management team

J.Crew has announced a raft of executive appointments and new board members as the US retailer looks to “advance its long-term strategic growth plan” after emerging from bankruptcy late last year. Jose Davila has been appointed chief people officer where he will guide the company’s overall people strategy and execution. Davila has 25 years of...

BusinessFeatured

2020: Fall of fashion brands, retailers and series of Chapter 11 bankruptcies

A look-back at the year 2020 reveals how fashion brands and retailers suffered due to dwindling sales, low footfall, high debts, high rentals, inefficient operations, out-dated merchandise assortment and high inventories, among other issues. The coronavirus pandemic added to the woes of these already troubled retailers leading them to file for...

RetailFeatured

J.Crew to close all six UK stores

US retailer J.Crew is to permanently close all six of its UK stores as it exits the country. The brand has appointed advisory firm FRP as liquidators to its UK business, The Guardian reports. The company has a head office in London and has around 80 employees. The brand opened a flagship store on London’s Regent Street back in 2013 and was also...

BusinessFeatured

J.Crew expects to exit Chapter 11 bankruptcy in early September

J.Crew Group, Inc. has announced it expects to exit Chapter 11 bankruptcy early next month after winning approval for its restructuring plan by the US Bankruptcy Court for the Eastern District of Virginia. The plan will equitize over 1.6 billion dollars of secured indebtedness, and provide a 400 million dollar exit asset-based loan facility as...

Video

Video: How private equity is demolishing fashion retail

J. Crew, Neiman Marcus and Barney's are just a few of the fashion retailers that have recently declared bankruptcy. Although, in these companies' cases it cannot only be blamed on a pandemic, bad business practices, or a failure to keep up with e-commerce. That is why CNN Business shared this 3-minute explanation on leveraged buyout's role in...

Video

Video: The rise and fall of American fashion brand J.Crew

At its peak, J.Crew, along with sister brand Madewell were thriving in 100 countries with over 500 physical stores. Being popular with celebrities and frequently worn by politicians, J.Crew's retail status was a distinguished one. How could this brand go from so much success to filing for bankruptcy during the coronavirus pandemic? Business...

Retail

J.Crew Group announces reopening of 171 additional locations

Three hundred and fifteen J.Crew and Madewell locations are currently open and operating in the U.S., after the company announced the re-openings of 171 locations today. The company began a phased reopening strategy of its 500 stores last month, after having closed all locations due to the COVID-19 pandemic. J.Crew Group said that it has...

BusinessFeatured

J.Crew swings to Q4 gain, extends Madewell IPO deadline

J.Crew Group has swung to a profit in the fourth quarter of the year and announced an extension to the deadline date of its upcoming IPO of its Madewell brand. For the three months to 1 February, the group reported net income of 1.5 million dollars compared with a net loss of 74.4 million dollars in the prior-year period. Total group revenues...