J. Crew

J. Crew Agrees to $3 Billion Takeover

Filed under: Apparel

Purveyor of preppy style J. Crew has agreed to a $3 billion takeover by two private equity firms. TPG Capital and Los Angeles-based Leonard Green & Partners say they plan to work with J. Crew Chief Executive Mickey Drexler, who will remain in that role and maintain a "significant equity investment" in the New York-based company, the Wall St. Journal reports. Drexler, the former head of The Gap, has doubled sales to more than $1.5 billion during his tenure and will personally pocket $150 million from the deal, the San Francisco Chronicle notes. The offer of $43.50 a share in cash represents a 16% premium over J. Crew stock's closing price of $37.65 on Monday and will require shareholder approval. Despite having gotten a boost courtesy of big fan Michele Obama, who wore their designs at numerous public appearances, the company's fortunes have oscillated with the economy. In May 2009 my colleague Deirdre Woollard reported that J. Crew eliminated a number of jobs in an effort to reduce its annual budget by $40 million.

Tags: apparel, business, buyout, J. Crew, Michele Obama, Mickey Drexler, private equity

The Fashion Statement: Fashion's First Lady

by Kristin Young (RSS feed) —

Filed under: The Fashion Statement

We know the First Lady has style. But did you know she was responsible for $2.7 billion in fashion sales at the height of the recession?

In a story published this week by the Harvard Business Review, Michelle Obama made more than 189 public appearances clothed in 29 brands between November, 2008, and December, 2009. After each of those appearances, fashionistas ran out to buy something from whatever label she wore, generating an average of $14 million in sales. This in turn affected the company's stock price which sometimes remained at an elevated level for weeks.

A celebrity's power is nothing new to the fashion world. But it turns out Michelle Obama is the holy grail of celebrity endorsements.

The HBR interviewed David Yermack, professor at NYU's Stern School, who found that following 18 of Mrs. Obama's public appearances, sales of whatever fashion brand or designer she chose to wear shot up 2.3 percent. A celebrity endorser-one like Sarah Jessica Parker for Halston, for instance-might only account for a 0.5 percent rise in sales. Not even other first ladies hold this kind of sway. The article pointed out that French First Lady Carla Bruni-Sarkozy sticks with one label-Dior-and most people can't afford the brand. Mrs. Obama, by contrast, mixes designer clothing with accessible brands like J. Crew.

Tags: carla bruni-sarkozy, David Yermack, Harvard Business Review, J. Crew, Michelle Obama

Continue reading “The Fashion Statement: Fashion's First Lady”

J. Crew x Belstaff Air Bomber Jacket

by Marsha Reid (RSS feed) —

Filed under: Apparel

The ultra classic bomber jacket gets an update. The folks at J. Crew and Belstaff have joined forces and collaborated on a line of women's outerwear that is truly gorgeous. One of our favorites is the Air Bomber Jacket. The Belstaff leather bomber jacket is one of kind and has an ever lasting design that an adjustment was not needed, but somehow with just a few minor changes, the leather bomber jackets gets even better. By creating a shorter and shrunken fit hitting above the waist, your classic leather bomber is feminized and adds an instant hard-edge sexiness to your outfit. Made from a hand finished buttery burnt brown leather, it features a rib trim at the neck, sleeve and hem. Price: $1195.

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Tags: Belstaff, bomber jacket, BomberJacket, J. Crew, J.Crew, leather jacket, womens outerwear

J. Crew's Sexy Globe-Trotter Centenary Collection

by Annie Scott (RSS feed) —

Filed under: Wings, Men's Style

Your luggage says a lot about you. Make sure it says the right things.

We love this bright yellow collection, the Globe-Trotter Centenary Collection from J. Crew. Each piece is meticulously crafted with a Vulcan Fibre shell, cotton lining, and leather trim. Globe-Trotter is a British company who has been making top-of-the-line luggage since 1897, and the results, as you can see, are quite fabulous.

This shade of yellow, "mimosa," has already been dubbed the "it" color of 2009. Plus, it's sunny and cheerful. Just imagine the glee you'd feel as this bright yellow case is spat out on the carousel. Instant mood-booster -- and easy to identify.

"Guaranteed to withstand the rigors of travel-or the weight of a one-ton elephant, whichever is worse."

The Centenary Collection also comes in black and "centenary ivory" for you sticks-in-the-mud.

Take a look at the collection here:

Gallery: J. Crew Globe-Trotter Centenary Collection

[via BeSportier]

Tags: bags, globe-trotter, globetrotter, j crew, j. crew, J.Crew, JCrew, luggage, suitcase, suitcases, travel, yellow

J. Crew Jewelry Collection

by Lisa Palladino (RSS feed) —

Filed under: Jewelry

Outfitter J. Crew now offers a jewelry line, available at its new J. Crew Collection store on Madison Avenue in New York City or online. The pieces are simple and reasonably priced, but better suited for weekend wear than your best black-tie outfit. There is a Fashion category as well as a Fine category. Fashion includes necklaces, bracelets, rings, earrings, and pins in prices from $25 - $228. Fine includes mostly pearl items -- earrings, bracelets, and necklaces -- in prices from $65 - $495.

Gallery: J. Crew Jewelry Collection

Double-strand jeweled-flower pearl bracelet

Tags: J. Crew, J.Crew, jcrew, jewelry

Globe-Trotter For J. Crew

by Annie Scott (RSS feed) —

Filed under: Apparel, Handbags, Luxury Travel & Hotels, Men's Style

Globe-Trotter, a British company specializing in luxury luggage since 1897, has teamed up with J. Crew to bring you a beautiful line of travel cases.

Pictured at right is the Globe-Trotter Centenary, a 21" case at $1,800. The Centenary is made from the finest materials, including leather trim and straps and a Vulcan Fibre® shell.

The line also includes suitcases in other sizes and a vanity case. Don't miss the 26" suitcase in black!

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Tags: baggage, case, globe-trotter, globetrotter, j crew, j. crew, JCrew, luggage, suitcase, travel