J.Crew Group announced yesterday that they have successfully completed their financial restructuring process after emerging from Chapter 11. The retailer is redefining their business strategy to become well-positioned for long-term growth.“Looking forward, our strategy is focused on three core pillars: delivering a focused selection of iconic, timeless products; elevating the brand experience to deepen our relationship with customers; and prioritizing frictionless shopping. As a reinvigorated company, we are committed to serving the changing life and style of today’s multifaceted consumer and to delivering long term, sustainable results,” said Jan Singer, Chief Executive Officer of J.Crew Group.
J.Crew Group is looking forward to the opportunities that will arise for the Madewell brand. Both Madewell and J.Crew have served as timeless retailers with fresh, modern styles and loyal customers.
“We are energized by the opportunity ahead for the Madewell brand and ready to continue our momentum as we enter into a new phase of growth. We will remain focused on maintaining our place as a leader in denim and innovating to create a differentiated shopping experience. We are also continuing to grow our offering of everyday essentials and are well positioned to lead the casualization trend offering our customers clothes they want to wear now,” said Libby Wadle, Chief Executive Officer of Madewell.
“We see an immense opportunity for growth and expansion at each brand and are confident their existing robust direct-to-consumer and e-commerce platforms will position the Company to succeed in today’s evolving retail landscape,” said Kevin Ulrich, Chief Executive Officer of Anchorage.
J.Crew Group’s focus on omnichannel will help them to achieve a seamless shopping experience for their consumers. It will also position their brands to operate with agility to meet ever-changing consumer demands.
Source: J.Crew Press Release 9/10/20
Photo Credit: Yelp
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About J.Crew Group
J.Crew Group, Inc. is an internationally recognized omnichannel retailer of women’s, men’s and children’s apparel, shoes and accessories. As of today, the Company operates 170 J.Crew retail stores, 141 Madewell stores and 170 J.Crew Factory stores in nearly every state in the United States, and also maintains J.Crew, Madewell and J.Crew Factory websites. For more information visit jcrew.com, madewell.com and jcrewfactory.com.
