J. Crew To Go Public

Share this content:

Talk of a J. Crew initial public offering has been in the air for more than a year, but today is finally the day, according to several published reports yesterday.

Apparel merchant J. Crew plans to offer 18.8 million shares at $15 to $17 a share and hopes to raise as much as $301 million, according to a report on MarketWatch.com. The company hopes to reduce its $740 million of debt with the raised capital.

CEO Mickey Drexler will own a 12 percent stake in the New York-based company after the offering.

Under Drexler, the company's fortunes have apparently taken a turn for the better, spurred by a renewed interest in its trademark preppy styles. Drexler previously headed up Gap Inc.

J. Crew was purchased in 1997 by venture capital firm Texas Pacific Group, which also led the investment group that acquired Neiman Marcus in the fall.

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above