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J.Crew Company Research Presentation
Transcript of J.Crew Company Research Presentation
J. Crew® is a nationally recognized apparel and accessories retailer that we believe embraces a high standard of style, craftsmanship, quality and customer service. We are a fully integrated multi-channel, multi-brand, specialty retailer. We seek to consistently communicate our vision of J. Crew through every aspect of our business, including through the imagery in our catalogs and on our Internet website and the inviting atmosphere of our stores. Target Market Young
College-educated and some post-graduate educated
Median age: 32
Annual Household Income: above $62,000 The Cult of J. Crew Jenna Lyons: The Woman Who Dresses America Jenna was born in Boston but was raised in Ranchos Palos Altos, California
Regardless of the fact that she's six feet tall, she always wears heels. Living in NYC is a comfort zone for people like her that are not afraid to enhance their stature with a nice pair of heels.
Jenna started working at J. Crew at the age of 21, as the "assistant to someone's assistant," after graduated from Parsons School of Design in 1990
She was designing in the men's knitwear design area when she was promoted to creative director by CEO, "Mickey" Drexler.
Jenna Lyons has been compared to as the "Tom Ford of J. Crew" after successfully reinventing and re-branding J. Crew's image.
As she said in an interview for the Huffington Post, Rache's style, and the new face of J. Crew, mixes something "a little too sweet and sugary" with "something more tailored," and there's always something "borrowed from the boys and borrowed from grandma."
Jenna and Mickey Drexler are the dynamic duo that set J. Crew on the path to success, and one of their best tactics was enhancing the store experience and connecting with their customers.
Examples of this would be to not have so much merchandise on the floor to create an ease of shopping and intimacy between the customers and the merchandise. CEO, Mickey Drexler often states that he "would rather see must-have items sell out than have too much excess merchandise on the floor."
Jenna Lyons has been selected as one of the 10 judges voting on the winners of the CFDA/Vogue Fashion Fund, along with Diane von Furstenberg and Anna Wintour
Recently named to the CFDA Board of Directors, signaling a change in the CFDA that once focused so narrowly on only RTW designers.
"Make clothes women want to buy and they will buy them."
Noemi C. Rodriguez
TXA 212K History Overview J. Crew debuts in New
York City with the
mailing of its first
catalog, name established by Arthur Cinader 1983 1996 Jcrew.com is
launched 1989 Millard "Mickey"
Drexler, former CEO
of the Gap, joins J.Crew as the new chairman and CEO of the company. Jenna Lyons is promoted as creative director. 2003 J. Crew launches
along with a selection of well-priced bridesmaids dresses. 2004 2006- Statistics and Money Matters Today J. Crew has 248 retail stores--including 9 crewcuts and 20 Madewell stores, 85 factory stores, and 3 clearances stores nationwide
In 2011 they decided to expand their e-commerce internationally by including other countries in their shipping range, such as Canada and their first store outside of North America will be located in London by late 2013
As of January 2011, J. Crew has about 12, 700 employees, where 3,800 were full time and 8,900 were part-time.
The average salary for working full-time at J. Crew is $51,000
Employees are offered medical, life, and dental insurance along with 25 paid vacation days and a 30% store discount.
Near the end of 2012, J. Crew recorded a jump in third quarter net income on rising sales and gross margins
J. Crew saw net income rise 53.7% within one year, from $21.6 million to $33.2 million, and gross margins increase 47.3%
Revenue grew 16% to $555.8 million over the last quarter as well.
J. Crew's latest technology advancement is an in-store styling app called Very Personal Stylist. It is free of charge and available on handy, in-store iPhones at the Columbus Circle (NYC) and Santa Monica (CA) locations The first retail store
opens in New York J. Crew launches children's collection,
Crewcuts, as well as the brand, Madewell.
J. Crew will further expand globally in 2011 Social Responsibility
Philanthropy The brand has found success recently, under Jenna Lyons direction, mixing masculine and feminine elements like sparkly jewelry and boyfriend trousers, perfecting the layered look and adding twists to tried and true wardrobe staples. Responsible Sourcing
J. Crew Code of Vendor Conduct
Fair Factories Clearinghouse
Ethical Product Policies
Sandblasting “We believe that we have a responsibility to operate our business with sensitivity to the world around us. We seek to incorporate sustainable business practices into all of our operations, improve our environmental impact and support social responsibility and community involvement. As part of our long-standing commitment to service, we hope to inspire our associates, customers and partners to protect the environment and promote social responsibility.” J. Crew In The Community Teach for America
Council of Fashion Designers of America
sponsor of CFDA/Vogue Fashion Fund
Leukemia and Lymphoma Society
Crewcuts tee: victorious
Big Brothers Big Sisters
Ronald McDonald House
National Wildlife Federation
J.Crew and the Environment Reduce environmental impact of our facilities and products
Improve the environmental performance of our supply chain
Engage associates, suppliers and customers in our efforts
5 Main areas where programs are being developed to achieve goal: