J.Crew to Launch Fast-Fashion Brand

J.Crew Group Inc. (New York) is launching a new brand, J.Crew Mercantile, a concept that will feature a fast-fashion format and lower price points than the original J.Crew chain. It is hoped, according to the Wall Street Journal, that the budget-oriented chain will boost the company’s overall income, which fell last year, despite an increase in overall sales. The company is in the early stages of launching an initial public offering.

J.Crew Mercantile will market its merchandise via physical and online channels. Its offerings, reports the WSJ, will feature prices and styles similar to its J.Crew Factory outlet offerings. Unlike factory stores, however, Mercantile stores will be located closer to city centers. The company has already signed a handful of leases for J.Crew Mercantile, largely in regional mall locations, and is said to be scouting for more locations.