Drop Prices To Compete? J.Crew Says No Way

One glance around our office, and it seems like J.Crew is taking over the world. Between its ever-expanding network of off-shoot brands and stores popping up on every street corner it's easy to assume that the preppy-chic line is totally killing it. But, according to its first-quarter reports, they've got some serious ground to make up — and even more expansion is on the docket.
Despite J.Crew's constant presence on street-style blogs, the company saw its net income decline, a fact execs attribute to all those fast-fashion stores clogging the market with cheaper-than-cheap duds (but, we're not naming names). However, the brand refuses to bend when it comes to its quality, style, and price point. "We feel good about our fashion and newness," said President Libby Wadle. "We remain focused on innovating and inventing new franchises and looking ahead."
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So, what does that mean in layman's terms? Expect to see J.Crew shops on even more street corners (especially in markets like London, Hong Kong, and Tokyo), and be prepared to keep shelling out a hefty sum for your much-beloved chinos and crewneck sweaters. But, if it means we get to keep the cashmere and dreamy knits we've come to rely on, we're not complaining. (Women's Wear Daily)
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Photo: Via Women's Wear Daily
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