J. Crew Posts Net Loss; Reaches Agreement on Madewell IPO

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J. Crew Posts Net Loss; Reaches Agreement on Madewell IPO
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J. Crew Group is proceeding with its plan to spin off its fast-growing Madewell brand into a separate public company, but continues to lose money due to difficulties at the J. Crew brand.

“It’s always been part of my mission in designing to have some sense of a sort of heirloom quality to the clothes, and that I wanted to bring in through this collection as well,” Clare Waight Keller told WWD of Givenchy’s pre-fall collection, where the designer turned to to nature for inspiration, as the house works to burnish its green credentials.

29 at the brand’s Italian boutiques and Italian e-store, 30 percent of proceeds from the sale of four bag styles — BV Classic, Marie, BV Angle and Arco — will be destined for restoration works of the world-famous cathedral. “Bottega Veneta’s identity is deeply linked with the Veneto region,” said Bottega Veneta chief executive officer Leo Rongone, referring to the fact that the brand was founded in Vicenza, a one-hour drive from Venice.

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