MY FIT PRESENTATION
-
Upload
watus-solis -
Category
Business
-
view
251 -
download
3
Transcript of MY FIT PRESENTATION
J. Crew Menswear
Mission: Quality is our highest priority from design, production &
personalized service.
HISTORY• 1983 – Debuted with mail order catalogs• 1989 – South Street Seaport, New York flagship store opens• 2003 – CEO Mickey Drexler recruited from the Gap to revive
J. Crew’s failing condition– Retail expansion– Quality service– Innovation
• 2011 – went global with Toronto & Vancouver Canada stores.• 1988 – Launched J. Crew Factory, a lower-priced exclusive
designs• 2006 – Launched Madewell, modern interpretation of
American denim goods.
CEO MILLARD DREXLER
• 2003 sales start to plummet
Quick expansion High costs
• COMPETITORS• Land’s End• The Gap• L.L. Bean
• new CEO 2003• “re-energize J. Crew”
• 2005 earned 3.8 million• first profit in 5 years
• Previous CEO of The Gap– Credited with 1990’s revival– Coined the “retail therapist”
• Extremely involved in all aspects of company
• Created an environment of “perceived exclusivity”
– Maintaining quality– Less-than-designer price point– Offering timeless classics with a twist
• . When Drexler took up the reins in 2003, J. Crew had $609 million in debt and 196 stores. Today, it has 321 stores, less than $50 million in debt and $298 million cash on hand.-Wall Street Journal
TARGET CUSTOMER
• Young & contemporary professionals
• 21 – 45 years old• Preppy fashions basic
like shirts, jeans, khakis as well a business suits
• Sold thru catalogs, e-commerce, more than 360 retail & factory stores in US & Canada.
ADVERTISING CAMPAIGNS
J. CREW MENSWEAR STORES
J. CREW MENSWEAR STORES
FUTURE OUTLOOK
• Americana trend made J.Crew more relevant– Increased consumer
awareness– Obama marketing
• International expansion– Going private allows for
greater fluctuation in numbers
– Media/shareholders can’t comment
• Increased market share• Increased profit margin