Blog: J Crew cuts to the chase
Leonie Barrie | 25 November 2009
J Crew has consistently outperformed its rivals during the recession providing proof, if it were needed, that shoppers are still prepared to pay full price during a downturn if presented with compelling, trend-right merchandise that they can’t find anywhere else.
And a more than doubled third quarter profit and an 8% hike in same-store sales show that this approach has definitely paid off.
It’s clearly not rocket science, but as chairman and CEO Millard Drexler says: “If you aren’t buying the right stock, the right inventory, the right fashion it ain’t getting you sales except at second and third markdowns and on promotions.”
Unlike many of its peers, J Crew is almost single-minded in its commitment to product quality, design, service and creativity.
Speaking on a conference call with analysts yesterday, Drexler elaborated further: “Our goal is to continue to innovate in everything we do. Each and every one of us is responsible for each and every one of our customers, so we design our products down to the smallest details and use the best factories and mills in the world to offer the highest quality.”
He added: “If you have...good product, good service, good delivery, integrity and pricing, some scarcity and not huge assortments, you’re going to take business from whoever is not doing it as well.”
His competitors have been well and truly warned...
Continuing our look at what lies ahead for the apparel industry and its supply chain in 2017, the panel of industry experts consulted by just-style last week tackled likely shifts in the sourcing land...
This week our focus turns to first thoughts from a panel of industry experts consulted by just-style on the challenges and opportunities likely to face the apparel supply chain in 2017, with prospects...
Welcome back after the holiday break, and from the team here at just-style I’d like to wish all our readers a happy and prosperous New Year....
Apparel sourcing is a complex process built on a mix of location, logistics, lead-time, price, compliance, risk and reliability. And it's in a constant state of flux as retailers, brands and manufactu...
- Trump and the apparel industry – Infographic
- How US border adjustment tax could affect apparel
- British Brexit plans prioritise tariff-free trade
- $1.7bn package to boost Pakistan clothing exports
- Mexico riots hit apparel retailers and shipments
- Cambodia clothing exports at risk from Brexit
- Apparel brands urge Bangladesh PM to address wages
- MAS Holdings planning second industrial park
- American Apparel to shutter all stores?
- Better compliance "crucial" for Bangladesh growth
- Outdoor performance apparel 2016: A broader perspective
- Anti-odour clothing: fresh fashion for an active lifestyle
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Global apparel markets: product developments and innovations, October 2016
- Global market review of lingerie – forecasts to 2022