J.Crew opens first of three London storesI did not realize how many stores J.Crew will have in London! That is great news for our British aficionadas. Although, I am even more excited to learn that Paris might be getting their very own J.Crew stores!!!
By Olivier Guyot
October 16, 2013
In 2008, J.Crew withdrew from Japan after inheriting a licensing deal that did not correspond to the brand's strategy. The company closed its 70 stores in the country and refocused its energy on its domestic market of the U.S. In 2012, with almost 300 U.S stores and one in Canada, CEO Mickey Drexler announced a new expansion strategy for J.Crew.
Faced with the arrival and development of brand such as Uniqlo, H&M and Zara in the United States, J.Crew set out about implementing its international expansion plan. The first step consisted of launching an international e-commerce site, a project which went almost a year ago.
Today, J.Crew takes another step towards its international expansion plan. After having announced plans to open in the UK and Hong Kong, the brand has opened the doors to its first store in the British capital of London.
Located at 38 Lamb’s Conduit, J.Crew has opened a store exclusively dedicated to its menswear collection prior to the opening of a two further stores next month. J.Crew will open a womenswear store at 175 Draycott Avenue and its highly-anticipated flagship store on Regents Street, taking the place of the former Burberry boutique. The flagship is set to open on November 8.
The British launch of J. Crew is a first step towards a European expansion. Last year, Drexler said the company was eyeing up three locations in Paris. With prices on some products bumped up almost 40% from those in the U.S, the question remains whether or not J. Crew will manage to find a foothole in the European market.
On a different note, I do appreciate that the article pointed out the price discrepancies between US and outside-US prices. With items marked up as much as 40%, will consumers find the value in J.Crew's product? Frankly, I don't know. I mean, I love J.Crew. That is a given. However, I already find prices are too high for certain pieces. I can't imagine paying another 40% on top of that.
What are your thoughts on J.Crew's international expansion news? Will you be visiting the newest locations in London? Please share! :)