J Crew UK Store
Finally, US fashion giant J Crew has announced that it is coming to the UK. The American cult favourite is set to open its doors to the British public in 2013, at 165 Regent Street, London, where the chosen building will be restored to its original character.
Located opposite Anthropologie and Guess, the shop was previously home to Burberry and will be in a dominant position on the corner of New Burlington Street in Mayfair. CEO Millard Drexler spoke to WWD about the move, explaining: “It’s the next chapter in our growth and our future. It’s an important flagship location on arguably one of the most important streets in one of the most important locations in the world.”
The store will be on two floors, amassing an impressive 17,000 square feet, with separate entrances for the men’s and women’s stores.
Drexler said that the decision to branch out to London was not a pioneering move, but a decision based on the success of other US stores to the bustling city. He described London as “a place where people understand and respect the integrity of great style and great design” and “an incredibly important fashion city.”
The decision to expand business to the UK comes after an incredibly successful year for J Crew: their net income in the third quarter rose from $21.6 million last year to $33.2 this year, whilst overall revenue increased 16%, totalling $555.8 million. Takings were fairly balanced between stores, but accessories and menswear were the leading faculties. With such strong sales momentum, it seems that the continental move comes at a perfect time for J Crew.
Unfortunately, we will have to wait until the end of next year to see the doors open for the first time but, with the success of fellow US brand Victoria’s Secret, who opened their first UK store in East London’s Stratford this summer, J Crew seem set for even greater things in 2013.