NEW YORK — J. Crew Group is expected to go public tomorrow with its long awaited IPO. An announcement on the opening price could come later today.
Officials from the retail and catalog business declined comment. The $950 million J.Crew could generate a lot of interest among investors considering it's a well-known brand name that has been successfully turned around by chief executive officer Millard Drexler, former ceo of Gap, and Jeff Pfeifle, president, and another former Gap executive.
Drexler has been launching brand extensions at J.Crew Group, including Crewcuts children's wear last spring. Madewell, a women's-only, item-driven line focused on "timeless and ageless" casual merchandise, will be launched this fall.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"