J. Crew is coming apart at the seams and is the newest retailer expected to file for Chapter 11 bankruptcy protection, according to the Wall Street Journal. This news comes on the heels of Madewell canceling it's March IPO as COVID-19 put the world on pause and shredded the market's value.
The Madewell IPO would have allowed J. Crew to pay down part of its $1.7 billion debt as the company struggled to define itself for nearly a decade. Creative director, Jenna Lyons, was credited for stylishly "dressing America" for 13-years but exited the company in 2014. Rockstar CEO, Mickey Drexler cut ties in 2017.
Jim Brett, who previously headed West Elm took over as the new CEO. Brett’s vision was to make J.Crew more accessible, both in terms of price and distribution. He helped launch several inexpensive lines within the J.Crew collection and even started offering the collection on Amazon. While the brand has seen an increase in sales, customers have complained.
J. Crew would benefit from increasing the quality of its merchandise and lowering its retail prices. American brands like, J. Crew have been unwilling to adapt to the demand of today's consumers. Retail success hinges on the ability to deliver high quality and sustainable merchandise at an affordable price.
Let's take the company's keystone Tippi sweater. The Merino sweater retails for $80 and comes in dozens of colors and is a fantastic basic for any woman's wardrobe. The problem is that Uniqlo's Extra Fine Marino sweater, which is also offered in 10 colors, rivals the quality of J. Crew and costs just $29. The same could be said for numerous J. Crew items.
Most consumers will agree that the best items sold at J. Crew are those from other companies. If J. Crew is going to survive past this bankrupsy it is going to have to figure out how to bring value, style, and quality to its customer. The competition is too numerous and the consumer is too smart to be duped.
Some of my personal favorite items at J. Crew are the kid's winter coats but there haven't been many stylish options in the past few years. The women's swimsuits always fit well and have remained affordable as prices in the swim market have exploded. The pajama sets are very nice but only a good value when they go on sale.
Retails need to keep in mind that opening stores aren't going to end the Pandemic. Shoppers are still skittish about going out into crowds and spending won't resume until consumer's personal finances are secure....
The selection for men is as good, if not, better than the options for women. So don't be shy forwarding the code to your male counterparts.
The best part of the Tessabit promotion is that the merchandise is coming from Italy and many of the items retail for less money when compared to our retail prices. Shipping costs are nominal, all duties are covered and even returns are free. You won't do any better than this (right now.)...
In 2018, Net-A-Porter and Alibaba entered into a joint venture, which allowed NAP tap into the Chinese company's sprawling logistics network and affiliated payment platform, Alipay. Now, Net-A-Porter is taking advantage of that platform and allowing worldwide shoppers to purchase from the Hong Kong-based site.
US Shoppers can tap into the Chinese platform with this link. Prices are slightly less than the US on most items. Shipping is free on purchases over $322-ish. Duties are not covered but it appears as if the additional fees are slightly less than NYC sales tax. We suggest tapping into this resource if you're having a hard time locating an item state-side.
We spotted some very cool Golden Goose. This pair with silver detailing is than the US at $371. These sneakers hit the magic balance of being over the shipping minimum but under the duty maximum before taxes. It's a triple win!
We suggest staying away from Gucci unless there is something you really haven't been able to find. It appears as if prices are about 10% more than they are here. It's just further proof that you always need to do your research.
NOTE: Click on the first Intermix link to engage this VIP access and to see the extra 50% off.
It's time to start sale-ing! Intermix just started an incredible promotion where sale merchandise is an additional 50% off. The discount on many items translates to a total discount of nearly 80%.
This sale will last through May 1. These extreme sale-on-sale events usually don't happen until the end of the season. We suggest you start scrolling fast because the best merchandise tends to go fast.
This is officially our seventh episode of quarantine weekend shopping. Mother's Day is right around the corner. It's May 10 to be exact. I can't stress enough how important it is to make a plan. Shipping is taking a long longer than usual and those taking a more creative approach should use the extra time to plan a perfect execution.
I updated our gift guide with a few more options. Including, quarantine friendly house slippers from Mini Rose. Anyone lucky enough to have shorted the market on February 20th can relish in an indulgence from Takat, which is cracking open the safe and offering great values on gems and jewels. Click here to see our full Mother's Day gift guide.
We are also extending our deep wealth of knowledge and connections to help track down hard-to-find items. We'll consider the task a gift -- mothers-helping-mothers. Email us here if there is something you need help sourcing.
This week, Bergdorf Goodman added an additional 30% off sale items. The site continually adds more items to the sale selection. Usually, sizes are limited and quantities are scarce. You have to move quickly and you only have through Sunday to take advantage. Look out for the plentiful assortment of Veronica Beard blazers for under $200 from $700 and these Paris Texas boots are $170 from $610.
Saks Fifth Avenue started it's big Spring sale this week. There are lots of contemporary and designer deals at 40% off. In addition, there is a promotion where you can save $50 off every $200 you spend. The deal highlights are Manolo Blahnik shoes and Saint Laurent bags and shoes. Enter the code HAPPYSF to engage the savings. Check back to our earlier post to see other finds.
Beauty addicts still have a few more days to take advantage of Sephora's Spring Savings. You can save up to 20% off everything on the site. Dyson Hair products are a sure thing and are difficult to find on sale or go for a gift set and experience some new products. Click over to the original story for all the details.
Coming up this week, Intermix will be having an explosive sale-on-sale promotion and Neiman Marcus will have an extra clearance discount promotion.
Until next week... same time, same place? Cheers!
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I don't recall there ever being a time when mothers were more deserving of heroic recognition. Days in quarantine, especially with young ones, bring the definition to a whole new level. We are teachers, chefs, housekeepers, mental health counselors, friends, physical trainers, activity directors, and that doesn't even include our professional obligations.
I appreciate that times are hard but this is not the year to slight the woman who runs the roost. No matter your budget, it's incumbent upon partners and children to make sure your madre feels appreciated.
Make it big or don't come home. Make a giant ode to mom in the form of a sidewalk chalk card or cook her favorite restaurant dinner and clean it up. Be sure to top it off with lots of hugs and kisses. Even better, if you're in the position to do so, buy her something she would love.
Remember, deliveries are delayed at most stores. Don't wait until the last minute.
We've been waiting for some heated sales and this one will definitely set off some sparks. The Italian boutique, Tessabit is hosting a 40% off sale that is only open to Mad-Spy readers can access the sale early through this link with the code: MADISONAVENUE40XT.
The selection for men is as good, if not, better than the options for women. So don't be shy forwarding the code to your male counterparts.
The best part of the Tessabit promotion is that the merchandise is coming from Italy and many of the items retail for less money when compared to our retail prices. All duties are covered and even returns are free. You really can't do any better than this right now. The code is valid until May 14....
Online bargain shoppers are anticipating explosive sales but we will probably have to wait until stores open before seeing the full impact of Covid-19 on the retail market. For now, there isn't much restocking on websites. Until stores open and new merchandise is received and uploaded, the sales will probably remain pretty tame.
This week is normally time for sales on Spring merchandise. Right now at Saks Fifth Avenue, you can save 40% off Spring merchandise. The big differentiator from prior seasons is that a few luxury designers are included in this markdown. Usually, this type of early Spring sale doesn't include designers like Chloe and Khaite.
