Sunday, March 2, 2014
Uniqlo Interested in Buying J.Crew?
J.Crew has been on a successful track in the last years. With the help of Jenna Lyons and Frank Muythens the brand has changed, expanding its demographics not only targeting to preppy buyers, but all kinds of consumers. Usually being seen worn by the U.S. First Lady Michelle Obama. Last year it opened its first European flagship store in London. J. Crew has been more successful than its competitor Banana Republic. J.Crew has a tremendous following because it offers its basics in an array of colors. Just hashtag #Jcrewaddict.The idea of offering various color ways of basics never fails just look at brands like American Apparel and Uniqlo that have used this method. I always have seen J.Crew as an American version of Uniqlo except with a more hefty price tag. J.Crew is one of the few retailers where I can find a cable knit sweater in mint or salmon pink.
It came to no surprised to find out that Fast Retailing that is the parent company of Uniqlo has an eye on the American Retailer. The founder of Uniqlo Tadashi Yanai wants to turn Fast Retailing into the world's biggest clothing retailer competing with brands like Zara and H&M. Supposedly the buying of J.Crew can Uniqlo five billlion dollars. J.Crew can be used to attract the more traditional crowd that sticks to classic staples like cable knit sweaters, cashmere sweaters, and chinos. Do you think is this a smart business move? Will the purchasing affect the American fanbase?