WHEN LIBBY WADLE became CEO of J.Crew Group in November 2020, conditions were not ideal. It had been six months since the company-which tripled annual revenue to $2.2 billion between 2003 and 2013-had declared bankruptcy after six years of spiraling sales.
For longtime J.Crew fans, it was an unthinkable low. Launched in 1983 as a less starched, and affordable, alternative to Ralph Lauren, J.Crew upended the apparel industry by selling its Hamptons-preppy clothing directly to young shoppers via a sumptuously photographed catalog that sometimes featured celebrities, was pored over in college dorms, and helped shape the '90s reigning casual aesthetic. In the early aughts, under CEO Mickey Drexler and executive creative director Jenna Lyons, the brand evolved, championing a colorful, pattern-filled vibe (memorably embraced by former First Lady Michelle Obama)-surviving the fast-fashion wave, and defining an era yet again.
But in 2014, the company began losing its way when it veered toward ever trendier, higher-priced styles.
Then came the pandemic-and the emergence of even faster fashion brands like Shein, where 44% of Gen Z buy at least one product every month, according to market research firm eMarketer-and J.Crew has had to evolve yet again. Under Wadle, a 20-year veteran of the company who also oversees Crewcuts, J.Crew Factory, and the company's successful spin-off Madewell, J.Crew Group is approaching a record $3 billion in sales this year by harnessing Gen Z nostalgia for retro apparel. Meanwhile, the number of J.Crew stores has shrunk to 117 from a high of 285 in 2015 because of a combination of bankruptcy-era closings and an industry-wide contraction in physical retail.
Esta historia es de la edición Winter 2024 - 2025 de Fast Company.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición Winter 2024 - 2025 de Fast Company.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
Where the Clean Energy Jobs Are
A data-driven guide to the skills you need and the opportunities you'll find
CAN WWE PIN THE WORLD?
AS IT MAKES ITS $5 BILLION NETFLIX DEBUT AND PREPARES FOR A GLOBAL AUDIENCE, WWE IS STILL WRESTLING WITH THE TOXIC LEGACY OF ITS COMPLICATED FOUNDER.
RADICAL VISION
POLICE DEPARTMENTS ACROSS THE COUNTRY ARE EMBRACING AI-ENHANCED SURVEILLANCE IN THE NAME OF STOPPING CRIME. HERE'S HOW ONE SECURITY FIRM IS LEADING THE EFFORT AND PROFITING OFF OUR FEARS
Brands That Matter
Our annual look at standout brands encompasses 130 honorees in nine categories, including the inaugural CMOs of the Year. Here's how 12 of those brands and three top CMOs stake out the intersection of business and culture.
The Future According to Google
Google DeepMind, the tech giant's internal AI research lab, isn't just racing to beat OpenAI to market. Under Nobel laureate CEO Demis Hassabis, it's the \"engine room\" of the entire company.
EYE OF THE BEHOLDER
SEPHORA HAS GROWN SO POWERFUL THAT IT CONTROLS WHICH BRANDS LIVE OR DIE IN THE $30 BILLION HIGH-END COSMETICS INDUSTRY. IN THIS BEAUTY CONTEST, SEPHORA ALWAYS WEARS THE CROWN.
CULTURE WARS
Brands on the Run Why Harley-Davidson, Caterpillar, and other masculine\" brands are caving to anti-DEI crusader Robby Starbuck
WORK LIFE
Law Roach, image architect and educator, answers our career questionnaire.
The AI Gadget Debacle
Here's why you shouldn't expect any mind-blowing AI-powered gifts anytime soon.
Why the future workplace will feel more like a hotel
REVEALS WHY THIS IS IMPORTANT TO CORPORATE STRATEGY AND EMPLOYEE ENGAGEMENT