To seek a broader audience, J.Crew plans to create a brand that appeals to younger women. CEO Jim Brett, said the retailer sees itself as a company with more than two brands, the Chicago Tribune reported.
“We’ll be announcing one new brand this year,” Brett told Bloomberg TV. “It is aimed at women, and it’s younger than any of our existing brands.”
Currently, the retailer is revamping its eponymous brand: To that end, the retailer is offering more size options. In addition, its Madewell brand is a “bright spot” for the company, according to the paper. That brand, which has denim clothing as well as accessories, could reach millennial customers.
And bridge millennials, who are those between, 30 to 40 years of age, are big consumers of clothing and accessories: They make eighteen purchases a year, second only to millennials at 19 purchases a year. And they spend a lot: $2,225 a year, second only to Gen X-ers at $2,367 a year.
The news comes as J.Crew has joined the likes of Nike and Party City to become the latest brand to offer its products through the eCommerce site. The brand will only sell a limited selection of products through Amazon; they will come from a more economy line called J.Crew Mercantile, which encompasses items such as T-shirts and jeans. In all, the products will only comprise approximately 2 percent of J.Crew’s total brand offerings.
Regarding its relationship with Amazon, Brett was quoted in The Wall Street Journal as saying that the brand created a “good understanding” with the online retailer. He noted that some discount imitators “have developed their own lower-priced versions of J.Crew.” By contrast, Brett said, “Amazon wanted to work directly with the people who created the concept.” J.Crew plans to have Amazon Warehouse create the listings and ship the products – but J.Crew has offered media, such as videos and photos, to help Amazon create the brand page.
Source: PYMNTS
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