History And Growth Of J.crew

2338 Words10 Pages
History and Growth J.Crew began in 1947 as a low priced clothing company that sold its merchandise door-to-door. It was originally called Popular Club but the name was eventually changed to J.Crew to better suit its preppy image. In 1983 the company released its first catalog in an effort to mimic the success of like Lands’ End and L.L. Bean. People fell in love with the company’s preppy aesthetic that was much more affordable than designers like Ralph Lauren. Within the decade, the company grew its customer base exponentially. Their sales increased from $3 Million to $100 Million in less than 10 years. In 1989 the company expanded into retail stores with their first brick-and-mortar location in South Street Seaport in New York.…show more content…
They introduced Crewcuts for Kids, J.Crew Weddings, and J.Crew Collection under the influence of a new CEO, Mickey Drexler. He introduced more high priced items to give the brand a new and luxurious feel. In 2006 the company went public with one of the strongest IPOs of the year. International expansion is new for the company and is an area that they continue to focus on in the future with a recent partnership with Net-a-Porter, a company that distributes fashion in 170 countries. Today, the company has a cult-like following. Celebrities and bloggers alike are devoted to the brands unique aesthetic and it continues to find success as a result. Statement The company does not have a clearly defined mission statement though it is clear that there are certain key values that they uphold. On their website they state that it is a “top priority to run our business with a sensitivity to the world around us”. It is clear that they keep this idea in mind as an important consideration in all of their strategies. The company also values classic fashion stating, “We side with style over fashion, think timelessness is overrated.” They have a reputation for producing classic pieces with a twist. They create classically tailored silhouettes and style them in new and exciting ways. This is the reason customers are loyal to the brand. The company is known to produce the unexpected and that is something that they and their customers both
Open Document