Changing of the guard at J. Crew

The decision by longtime J. Crew CEO Mickey Drexler to step aside was widely reported yesterday. (I recently discussed the departure of the company’s creative director.) Drexler is being replaced by James Brett, current president of the West Elm lifestyle brand. RetailWire panelists discussed what to anticipate at J. Crew, and I wrote the following:

First, keep in mind that Mickey Drexler is not exactly riding into the sunset: He retains his chairman title and a significant ownership in the company. So it remains to be seen whether Mr. Brett has the freedom to reshape the company as much as it needs. It’s not always easy for somebody with Mr. Drexler’s track record to walk away.

As to the reshaping, I expect to see a few things happen: First, a faster expansion of the Madewell business. Second, a course correction for the J. Crew brand itself, perhaps back to its legacy positioning as a more affordable (but still aspirational) alternative to Ralph Lauren. (Right now it’s nowhere close to a clear point of view.) And, third, expanding the J. Crew brand (once it is fixed) into new categories, just as Mr. Brett has done by treating West Elm as a lifestyle business.

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