Madewell to enter menswear
Madewell is not shying away from change. After expanding its size offering last August, to include jeans up to size 37 and size XXXL for 40 percent of its collections, and the launch of a lingerie collection in 2017, the American brand is now venturing into menswear. In an earnings call to J.Crew Group investors, Madewell’s owner, Jim Brett, CEO of the company, announced the imminent creation of a men's line.
"Madewell will become the leading premium denim brand in the world," he said in his announcement. If the group is continuing to invest in Madewell, it's because the brand, unlike J.Crew, is growing steadily. In the second quarter of 2018, sales increased 29 percent reaching $121.7 million (or 104 million euros). For their part, J.Crew's sales, which will see a September relaunch, fell by 5 percent to $428.9 million (€ 366.7 million).
In addition to the new men's line, Jim Brett also unveiled J.Crew Group's new wholesale strategy. The two brands will enter new markets through partnerships with department stores in different countries, like the one with John Lewis in London. In France, Madewell will arrive soon at the Galeries Lafayette, just like J.Crew.
Jim Brett also spoke about upcoming franchise signings in different Asian countries and the Middle East, as well as the two brands entry on more online platforms such as Zalando, Asos and Shopbop.
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