J. Crew has big plans for 2006.
The high-end preppie apparel company expects to debut Crewcuts, a line of children's clothing for 2- to 8-year-olds. Offerings will include argyles, embroidered critters and cable knits, the company stated in a filing with the Securities and Exchange Commission.
“We intend to market the Crewcuts line initially through our existing sales channels and may consider separate Crewcuts retail stores in the future,” the statement continued.
J. Crew also aims to open between 15 and 25 stores next year and expand by 25 to 35 stores annually thereafter. They will be located “predominantly in affluent markets where [the company has] demonstrated strong direct sales.”
The firm also will launch a markdown Web site at JCrewFactory.com by the end of 2006. “Since approximately two-thirds of our Internet channel customers who have made a purchase in the past 12 months have purchased marked-down merchandise, we believe that offering the products currently sold in our J. Crew factory channel online will target customers seeking lower priced items while increasing the breadth of our sales channels,” the statement concluded.
