For the first time in almost four years, J.Crew is seeing an increase in sales. The clothing retailer struggled with a sales slump for 15 consecutive quarters before it finally reported a one percent rise last quarter.
At the helm of the brand is their new CEO, Jim Brett, who was hired last summer to turn the company around. The West Elm alum is now leading the relaunch of J.Crew on Monday with a range of prices and sizes “to reflect America and the diversity of America,” according to Brett.
“We wanted to broaden the view to include more sizes, more aesthetics, more fits, and a better value range,” he told “CBS This Morning” in his first television interview since becoming CEO.
Brett said the brand was missing “gateway products so people can enter the brand.”
“We were starting too high. So it’s not about staking all prices down. It’s just about having those easy pick-me-up items so that anyone who walks in the store can walk out with something,” Brett said.
Asked whether J.Crew has been hurt by online retailers like Amazon, Brett said that they weren’t “a victim of another retailer or a different way of shopping.”
“I think that J. Crew has been a victim of not really listening to the customer and responding to what she wants. And we’re getting back to listening to the customer, responding to her with what she wants, and also differentiating ourselves by focusing on sustainability and fair trade,” Brett said.
Individuality also appears to be key, Brett said, so J.Crew is offering consumers “ingredients” for expression. “The brands that have stuck to the idea of dictating a look, I think, have fallen by the wayside,” he said.
“A couple years ago, it was very focused on a very specific fashion look, and now you’ll see some of the classics that you expect – think of that New England style, along with some New York fashion point of view, as well as some Southern California bohemian looks – which our customers told us over the years that she really loves,” Brett said.
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