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Friday, February 20, 2009

02/20/09 GREENWICH ROUNDUP EXCLUSIVE: J. Crew's Tests New Concept In Greenwich.Madewell Is Launching On Greenwich Avenue

You won't read this headline at the Greenwich citizen .....

J. Crew To Launch New Retail Brand In Greenwich

You won't read this headline at the Greenwich Post .....
Greenwich J.Crew-Aholics To Become Madewell Ginny Pigs

You won't read this headline at the Greenwich Time .....
Greenwichites To Help Give Thumbs Up Or Thumbs Down On New Retail Concept

You won't hear Tony Savino at WGCH read this headline .....
J. Crew to Debut Less-Expensive Madewell Chain On Greenwich Avenue

You won't read this headline at any Greenwich blog .....
A sassy kid sister's coming out on Greenwich Avenue

But Greenwich Roundup, the leading guide to chic destinations in town and advisor of fashion-savvy members of Greenwich society reports that.....
J.Crew Aficionados Like Michelle Obama Can See The New Madewell Collection On Greenwich Avenue In 10 Days !!!!

Millard Drexler, who was formerly CEO of Gap and is revitalizing J. Crew Group Inc. as its chairman and CEO, is developing a new chain of casual women’s clothing stores called Madewell.

The New York-based clothier unveiling the first Madewell store in August in Dallas, followed by another store in Los Angeles. The company having a A Madewell opening at 256 Greenwich Avenue, on March 3.

Store officials have declined to say how many stores the company envisions.

Store Officials have also said that they see Madewell and J. Crew complementing each other, not competing with each other.

Madewell is targeted to the affluent high school/college student- who wants to look great in basics and vintage inspired pieces, who can not only afford great quality but desires it.

Madewell will cater to the younger female customer because of its lower prices and style.

J. Crew currently operates eight Madewell stores in the United States, with two more scheduled to debut this year. A Madewell online store has partially launched and will expand in July or August.

The company started developing the lower-priced offshoot in 2006, and still classifies the line as "research and development.

But the big question is will the fashion gods smile on the new retailer's colorful and classic styles.

In the second half of this year J Crew is going to make a 'go or no go' decision on the Madewell concept. Jim Scully, CFO of the company, recently said during the Wachovia Nantucket Equity Conference:

"One thing we won't do is lose $15 million a year, we'll either lose zero or ramp up and be profitable."

Any expansion would occur in 2010 due to real estate factors.

The Big Question Is Can The Preppy J Crew Somehow Get The First Family To Somehow Promote The Newer Sister Store Called Madewell.

J Crew did see a spike in traffic when Michelle Obama donned that first, now famous, J.Crew getup on Jay Leno.

J Crew also received a boost when the Obama girls wore their Crewcuts get ups to the inauguration and when Michelle Obama wore J.Crew the weekend before at the "Kids Inaugural: We Are the Future" concert. (Crewcuts is another J crew concept store format that will target kids)

The Big Question Is......

Can J Crew Get An Obama Reletive To Wear The Hippie-Chic Look Of Madewell And Then Somehow Appear On National TV.

Madewell is targeted to the affluent high school/college student- who wants to look great in basics and vintage inspired pieces, who can not only afford great quality but desires it (in terms of fabric and stitch).

J. Crew is relatively small - its revenues last year were just over a billion, and its entire retail square footage would fit into the space of just 13 Sam's Clubs.

So many in the retail industry wonder if it wise for retailing icon Mickey Drexler to double down in the worst retail environment in 40 years.

Is It Really wise to launch this a new, somewhat upscale brand called Madewell.

The fledgling Madewell chain - which has opened at ten locations, including New York City, Los Angeles, and Dallas - is aimed at the J. Crew customer's edgier siblings. Think jeans and boots rather than skirts and sweater sets. Madewell's name has a deliberate throwback quality that often appeals to a youthful craving for authenticity.

Madewell was a a defunct New England manufacturer.

The script logo - reminiscent of the Peterbilt truck's typography - actually dates back to 1937. Drexler bought the rights to the name shortly after he joined J. Crew.

Is J. Crew trying to pick up the American Eagle And Abercrombie & Fitch graduates.

The children of the baby-boomers are three years away from getting into their 20s.

Madewell will have a women's-only line will focused on "timeless and ageless" casual merchandise, with price points 20- to 30% lower than J. Crew.

Madewell stores will be 3,000-sq.-ft., about half the size of J. Crew stores

More Information:

A pair of gloves for $1,000 they have to be kidding me ..... thats $500 a hand ...... or $100 a finger ..... I'll give them a $100 finger ..... How about a middle finger !!!!!!
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