J. Crew: Money and mojo
J. Crew's bankruptcy implies the end of those bright, optimistic clothes sprinkled with just enough spark to dodge L.L. Bean stodginess. But it's not time to stick a fork in the company yet. Other brands have filed for Chapter 11, restructured and survived, from Yohji Yamamoto to (so far) Forever21. (The demise of department stores, like Neiman Marcus, and specialty stores like Barney's is a whole other story.)
The old days
A 2019 Vanity Fair article lauded J. Crew at its already-past best: "... in what had been a dead zone between designer and mass fashion, it gave American shoppers a conveniently-located, approachably priced land of not-so-basics with real mojo... buying them could feel a little like buying fashion... For a time, J. Crew conjured a blend of relevance and emotional resonance that any brand at any price, would kill to achieve."
But by the 2000s, with a bloated business (bridal, sneakers, cellphone cases, the luxury "Collection" and low end "factory" lines) and far too many retail stores, their debt ballooned to nearly $2 billion. Apparel is a brutal, capricious business and no amount of Jenna Lyons' quirk could dent those numbers.
My first piece in the late '80s was one of those roll-neck wool sweaters, which would still be wearable today. But as time passed, J. Crew went from a catalog full of clothes I'd be happy to wear to a search for something I might wear. In the past five years, as the red ink flowed in, and so did the synthetics and skimpier cuts.
But I still look, and recently re-upped their linen v-neck tee, even though it is two inches shorter than those from three years ago. (To their credit, it is made in sizes from XXS to 3X.)
Let's hope that debt protection reinvigorates their spirit. Major private equity investors will run it, the retail stores will almost certainly close, and though this is counter to what I have seen countless times when private equity firms assume ownership, they could return to the canny mix of the arresting and classic that earned them their following.
I picked three pieces that illustrate what they can deliver when they provide structure, detail and assertive, saturated colour. (And a woman can get them on her doorstep, a good thing because many of the stores will close.)
Left: A-line dress in embroidered eyelet (back view)
Top right: Rose velvet blazer (out of stock)
Bottom right: Striped denim wrap jacket
Who stole J. Crew's customer? Fast fashion vendors like Zara, Mango, and H&M, who provide a dress for half the price (for someone who wants to wear it a season) or Everlane, who sell basics in neutral colours wrapped in virtue-signalish transparent pricing—but everyone in the apparel business is quaking in the current climate.
Even if I wouldn't buy these specific pieces, I want them to be available:
A (washable) aqua slip skirt, a zebra-print cashmere sweater, or a well-cut (no cap sleeve!) palest grey tee: who else, where else, in one place, with decent shipping prices?
If the acrylic goes, I'll be back. (And they had better drop the outrageous $25 restocking fee for international customers who return goods by mail.) Debt relief could be a lifeline, not only for the company, but for women in the Passage, who appreciate wearable but not dull clothes.
The old days
A 2019 Vanity Fair article lauded J. Crew at its already-past best: "... in what had been a dead zone between designer and mass fashion, it gave American shoppers a conveniently-located, approachably priced land of not-so-basics with real mojo... buying them could feel a little like buying fashion... For a time, J. Crew conjured a blend of relevance and emotional resonance that any brand at any price, would kill to achieve."
But by the 2000s, with a bloated business (bridal, sneakers, cellphone cases, the luxury "Collection" and low end "factory" lines) and far too many retail stores, their debt ballooned to nearly $2 billion. Apparel is a brutal, capricious business and no amount of Jenna Lyons' quirk could dent those numbers.
My first piece in the late '80s was one of those roll-neck wool sweaters, which would still be wearable today. But as time passed, J. Crew went from a catalog full of clothes I'd be happy to wear to a search for something I might wear. In the past five years, as the red ink flowed in, and so did the synthetics and skimpier cuts.
But I still look, and recently re-upped their linen v-neck tee, even though it is two inches shorter than those from three years ago. (To their credit, it is made in sizes from XXS to 3X.)
Let's hope that debt protection reinvigorates their spirit. Major private equity investors will run it, the retail stores will almost certainly close, and though this is counter to what I have seen countless times when private equity firms assume ownership, they could return to the canny mix of the arresting and classic that earned them their following.
I picked three pieces that illustrate what they can deliver when they provide structure, detail and assertive, saturated colour. (And a woman can get them on her doorstep, a good thing because many of the stores will close.)
Left: A-line dress in embroidered eyelet (back view)
Top right: Rose velvet blazer (out of stock)
Bottom right: Striped denim wrap jacket
Who stole J. Crew's customer? Fast fashion vendors like Zara, Mango, and H&M, who provide a dress for half the price (for someone who wants to wear it a season) or Everlane, who sell basics in neutral colours wrapped in virtue-signalish transparent pricing—but everyone in the apparel business is quaking in the current climate.
Even if I wouldn't buy these specific pieces, I want them to be available:
A (washable) aqua slip skirt, a zebra-print cashmere sweater, or a well-cut (no cap sleeve!) palest grey tee: who else, where else, in one place, with decent shipping prices?
If the acrylic goes, I'll be back. (And they had better drop the outrageous $25 restocking fee for international customers who return goods by mail.) Debt relief could be a lifeline, not only for the company, but for women in the Passage, who appreciate wearable but not dull clothes.
Comments
Other brands make decent knits too, but it is more hit and miss, and other brands I have not worn personally so don't know. One of the best sweaters ever was a J. Jill cashmere, go figure. It absolutely did not pill.
Add to that the problem of the supply chain, because so much raw material (all cashmere wool) and manufactured apparel from tees to coats comes from China or other countries devastated by Covid. So if you know, for example, that you'll need a pair of black jeans or your favourite bra for next fall, I would buy now.