Looks like the union between our two favorite fashion megabrands won't be happening after all. Just weeks after rumors surfaced that Fast Retailing Co. Ltd., the massive Japanese retailer that owns Uniqlo, was considering acquiring J.Crew, it appears that talks have broken down completely. WWD reports that Fast Retailing may have balked at J.Crew's $5 billion valuation. That amount includes J.Crew's 451 stores and $2.4 billion in annual sales, but to be fair, that is a whole lot of Minnie pants.
J.Crew is said to be working with Goldman Sachs to ready itself for an initial public offering instead. So, good news for all the J.Crew superfans out there. You may get your chance to invest in the brand yet. Although we'll continue to mourn the loss of the J.Crew-quality cashmere at Uniqlo prices we've been dreaming of these last few weeks. (WWD)
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