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(Business Insider)   The rise and fall of a company that sold overpriced clothes to wanabe elites   (businessinsider.com) divider line
    More: Interesting, Millard Drexler, J.Crew, Goldman Sachs Capital Partners, Clothing, Brand, Jenna Lyons, Michelle Obama, J.Crew catalog  
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1958 clicks; posted to Business » on 05 Jul 2020 at 11:50 PM (4 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



18 Comments     (+0 »)
 
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2020-07-06 12:09:34 AM  
expecting dolce & gabbana
 
2020-07-06 12:28:20 AM  

BitwiseShift: expecting dolce & gabbana


I was expecting G-Star (it went bankrupt today)
 
2020-07-06 12:36:16 AM  
And nothing of value was lost.
Decent pants can cost less than $150 and as an added bonus not include ridiculous and excessive brand marks.
 
2020-07-06 12:36:44 AM  
Back when I was in college all of the preppy upper middle class students wore JJ Crew like it was their uniform. It was crazy, these people could look at what each other were wearing and know what catalog it came from.

The stuff was expensive then and their prices slowly raised to ridiculous, making it out of the reach of the upper middle class preppies. Yup, they priced themselves out of the reach of their largest consumer base. Doing that never ends well
 
2020-07-06 12:37:20 AM  
If "the customer is always right", then why is retail failing? Of course the pandemic is a huge factor now, but Neiman Marcus, JC Penny, Macys were/are having huge problems staying solvent-pre-virus.
I worked in retail, and the stupid is unreal. So many poor choices made from the top down. I was an assistant manager at one store, had almost complete say in the running of the store-and it did very well. Tanked after I left.
 
2020-07-06 12:48:32 AM  

Artist: If "the customer is always right", then why is retail failing?


Not sure what you mean. "The customer is always right" is exactly why businesses tend to see less success when they don't adapt to consumer trends/preferences.

/original-formula "customer is always right," obviously, not the "let Karen tell you how to run your store" version
 
2020-07-06 1:02:48 AM  
Moneyed douchebags needed uniforms, and J.Crew provided.
 
2020-07-06 2:11:19 AM  

Artist: If "the customer is always right", then why is retail failing? Of course the pandemic is a huge factor now, but Neiman Marcus, JC Penny, Macys were/are having huge problems staying solvent-pre-virus.
I worked in retail, and the stupid is unreal. So many poor choices made from the top down. I was an assistant manager at one store, had almost complete say in the running of the store-and it did very well. Tanked after I left.


In 2011, J.Crew was bought out by TPG Capital and Leonard Green & Partners in a $3 billion deal.

Private equity is the reason. They are destroying the retailers.
 
2020-07-06 2:32:38 AM  

dumbobruni: BitwiseShift: expecting dolce & gabbana

I was expecting G-Star (it went bankrupt today)


I expected Lululemon.
 
2020-07-06 2:53:29 AM  

Needlessly Complicated: dumbobruni: BitwiseShift: expecting dolce & gabbana

I was expecting G-Star (it went bankrupt today)

I expected Lululemon.


Izod for me.

/Could get their polos for $60+ at the local department store, but why when I can get probable knock offs on Amazon for a quarter of that?
 
2020-07-06 3:55:08 AM  
I think I had some J Crew hemp pants in the 90s, really nice for sailing and warm weather.

One bad thing though that I found out on a trip to Saint Catherine's Street in Montreal, under a black light slight beer splash stains really show up bright.
 
2020-07-06 4:25:03 AM  

mcreadyblue: Artist: If "the customer is always right", then why is retail failing? Of course the pandemic is a huge factor now, but Neiman Marcus, JC Penny, Macys were/are having huge problems staying solvent-pre-virus.
I worked in retail, and the stupid is unreal. So many poor choices made from the top down. I was an assistant manager at one store, had almost complete say in the running of the store-and it did very well. Tanked after I left.

In 2011, J.Crew was bought out by TPG Capital and Leonard Green & Partners in a $3 billion deal.

Private equity is the reason. They are destroying the retailers.


I know it'll be fruitless to question Fark's "PE bad" article of faith, but this seems like an especially questionable use of it. Absent some specifics it makes no sense to assume you can explain a company's bankruptcy with the mere fact that they were taken private (and not at a distressed price either) by the SAME firm that had previously owned the vast majority of the same company for years, greatly increasing its value during that period of private ownership. If investment from PE, or TPG specifically, were a kiss of death, then J Crew would've been bankrupt 20 years ago.
 
2020-07-06 6:05:07 AM  
Expected Supreme
 
2020-07-06 6:31:06 AM  
Reporter: There are confirmed cases in nearly 30 countries and more than 2,100 people dead.

thanks to this timely article for the warning.  let's hope this covid doesn't get out of hand.
 
2020-07-06 7:17:58 AM  
Once fat, slow-witted, bald men started wearing them you know J Crew's time was limited.


66.media.tumblr.comView Full Size
 
2020-07-06 9:05:59 AM  
Overpriced clothing made in the USA would be justifiable, but not if it is made in Guatemala and Indonesia like everybody else.
 
2020-07-06 11:52:51 AM  
I used to wear J Crew polo shirts, back when I could pick them up for $12-15 at the factory store in Freeport. They were fine and didn't have a logo. I haven't had one in years, though, as the price crept up so that a "discount" polo there cost more than a new full-price one across the street at LL Bean.

/This prep doesn't pay $50+ for a polo shirt.
 
2020-07-06 12:30:31 PM  
We had a nice outlet store around here. I'm going to miss them.
 
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