Sunday, May 4, 2014
J. Crew to Open a Lower End Line: J. CREW MERCANTILE
For the budget conscious, J. Crew is not often a shopping destination. It's a store often relegated for special occasions or an occasional splurge, since they are not known to offer deep discounts. With Jenna Lyons at the creative helm, J. Crew has a devoted following that continue to shop at full price. However, with lackluster sales from the most recent holiday season, perhaps this is an attempt to boost sales and profits. According to Bloomberg Business News, "net income tumbled to $5.92 million in J. Crew’s fourth quarter, down from $10.2 million a year earlier."
I, myself, can only afford to look to J. Crew for styling inspiration, and their products are often out of my reach. Finally, I might soon be able to do more than just window-shop with J. Crew Mercantile. This offshoot is said to be priced and to offer clothing and accessories similar to J. Crew Factory stores, except you won't have to schlep an hour away to a factory outlet mall. Mercantile stores are said to be located in regional malls according to Refinery 29. Think of J. Crew Mercantile as Old Navy is to The Gap -- a lower-end version at a lesser price. Why not, it's being brought to us by the same man, Mickey Drexler, the current CEO of J. Crew. He was responsible for introducing Old Navy back when he was CEO at Gap, Inc.
I love this new expansion to J. Crew brands, and I am gonna keep an eye out for the new Mercantile stores opening in my neck of the woods. There are no dates yet as to when the first store will open. Everything is still in the preliminary stages. J. Crew Group Inc. only recently trademarked the name J. Crew Mercantile back in November.