J Crew is slashing prices in an attempt to tackle slumping sales and waning customer interest. Following a six per cent sales slump in 2016, the company is investing in retuning J Crew’s identity as an affordable and accessible brand for everybody — not just the fashion-forward crowd.
J Crew is now trying to compete without marking everything down by 40 per cent every other week. It has created an analytics team to research and optimize the cost of each item. It also plans to switch up its supply chain beyond China so that clothing will arrive in stores faster.
America’s favorite basics store is known for its lace jogging pants, skirts, tank tops, tees, dresses, fine Italian cashmere sweaters, sequin and lace-detailed skirts and playful jewelry.
J Crew has been an institution since 1983. It is renowned for its fresh, luxurious take on everyday staples.
Pricing at J Crew has become a major grievance for a brand that used to be known for selling trendy, affordable basics.
The brand was always interested in quality, often focusing and investing on small details. But then it came into competition with a new class of trendy fast fashion retailers who operate at lightning speed. Also, design details such as nicer buttons and richer colors are less apparent on the internet.
