J Crew began as an understudy to major preppy brands, like Brooks Brothers, in 1983. At first, the company maintained no storefront retail stores. It did business via its catalog, which it mailed out to millions of Americans, Europeans, and international customers. The novel marketing concept was a success. Consumers loved the freedom of shopping from home. In 1989, thanks to consumer demand, the company opened up its first store in New York City. Today, there are more than a 150 J Crew clothing and accessories stores throughout the world as well as 43 dedicated factory stores. The J Crew catalog is in good health as well. Estimates suggest that the catalog sees a circulation approaching 80 million people. The company's new CEO as of January 2003, Mickey Drexler, has helped shepherd the company into the new millennium. Whereas earlier J Crew catalogs highlighted cost-effective merchandise, today's catalogs showcase some truly exclusive items, such as J Crew cashmere sweaters, the Legacy Blazer, and all-weather wear shirts. J Crew is also world-renowned for its chinos, stonewashed jeans, and roll neck sweaters. As of the year 2002, J Crew was valued at more than $800 million. Despite the company's enormous growth over the past 20 plus years, the brand still retains its iconic character. The J Crew catalog changed the way the entire fashion industry operated and in many ways, foretold the revolution that e-commerce would have on the business. |
