SOLD!…J. Crew For $3 Billion
It’s going to be a very Merry Christmas over at J. Crew; the company’s shares just went up thanks to a recent buyout. The all-American fashion brand has been acquired for $3 billion by TPG Capital.
As reported by WWD, “Millard “Mickey” Drexler, chairman and chief executive officer, will remain with the firm and maintain a significant equity stake in the company. “We are in this for the long term and we do what we do day in and day out so we can deliver the best possible products to our customers,” Drexler said.”
I wonder if this means we can expect to see some new innovations from the brand? A designer collab perhaps? Alas, only time will tell how the buyout impacts the brand’s product assortment.