J.Crew to Lower Prices
That’s right, you read the title right – J. Crew is planning on lowering their prices! J.Crew’s chairman and chief executive officer, Millard “Mickey” Drexler, was recently a guest speaker at the New School’s University Center in Manhattan and revealed that this year, most of the things we covet at J.Crew will be much more attainable. “For spring, you’ll see our prices [will be] much friendlier this year. We can’t compete with designers” Drexler told the crowd.
And it’s very true. Many people don’t find the value in spending $1000 on a hand-beaded t-shirt from J.Crew, especially when they could spend the same amount of money on luxury brands or take the more practical route and put their cash towards a small mortgage payment. Drexler made it very apparent that he felt the exact same way, “I grew up in the Bronx. I resent the masses thing. I find the world isn’t that high-integrity. Maybe I grew up not being able to afford nice things, but it shouldn’t be that way. I wanted nice clothes that [weren’t] crazily priced.” Though the company still plans on releasing pieces from Collection, a higher-priced line that uses more luxurious fabrics, the “middle of the road” merchandise will be coming down in price.
While you can always score great pieces on sale at J.Crew, we think it’s great news that they’re making their regular priced clothing more attainable to the masses. Will lower prices work as incentive for you to shop at the American retailer?