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Corporate Communications Final Presentation. We were asked to research all aspects of a company of our choice throughout the semester. I researched everything from current industry trends to annual reports and figures.
U.S. Apparel Industry History<br />Began with menswear in 1800’s<br />19th century Gold Rush<br />Levi Strauss<br />Jeans “easily transformed into utilitarian work <br /> trousers”<br />Womenswear picked up in 1900’s<br />First influenced by Parisian fashion<br />Isolation of WW1&2 created confidence in <br /> “correctness” of American lifestyle<br />Today U.S. retail industry has revenue of $150 billion<br />
J.Crew Company History<br />Started as mail order catalogue in 1983<br />Popular Merchandise, Inc.<br />End of 80’s showed decline in mail order catalogues<br />South Street Seaport Flagship Store opened 1989<br />Success was great<br />3 more stores opened nationwide<br />End of year revenue $320 million<br />327 J.Crew stores in U.S. to date<br />
CEO: Mickey Drexler<br />Brought on in 2003<br />Previous CEO of The Gap<br />Credited with 1990’s revival<br />Coined the “retail therapist”<br />Extremely involved in all aspects of company<br />Created an environment of “perceived exclusivity”<br />Maintaining quality<br />Less-than-designer price point<br />Offering timeless classics with a twist<br />
CEO: Mickey Drexler<br />In 2005, the company turned its first profit in five years, and between 2003 and 2008 revenues rose 107 percent. In 2006, Drexler presided over a very successful IPO. In 2009, revenues ($1.57 billion) exceeded pre-recession levels and same-store sales climbed 11 percent. Profits jumped 40 percent. When Drexler took up the reins in 2003, J. Crew had $609 million in debt and 196 stores. Today, it has 321 stores, less than $50 million in debt and $298 million cash on hand.<br />-Wall Street Journal <br />
Current Company Status<br />Privately held as of March 1<br />$3 billion buyout<br />Stockholders received $43/share<br />“It would provide greater flexibility and allow for planning unburdened by the demands of a public company's quarterly earnings schedule” <br />TPG Capitol: 71%<br />Leonard Green & Partners: 19%<br />Internal: 10%<br />
Americana TrendHow did it happen?<br />The recession prompted trendsetters to back away from avant-garde and revisit classic, durable goods made in America. Suddenly, fishermen and oil riggers are walking in the same boots as fashion-conscious advertising executives.<br /> -KSTP.com<br />