J. Crew to open London menswear store
J. Crew has been much talked about in the news this week. Firstly, the US upmarket high street giant confirmed it would open a separate men’s boutique in London. The collegiate brand will launch its new store in Lamb’s Conduit Street, the menswear style destination in London Bloomsbury. J. Crew charges up to 40 percent higher prices in UK
The other feature concerns a comparison of J. Crew‘s UK prices. As the brand prepares for its standalone store launch, it’s marketing team has gone into overdrive, with a lots of product features being published in the fashion pages. The startling discovery was finding out the company charges up to 40 percent higher prices than it does in its American retail stores.
For instance, as the Sunday Times noted, a women’s cashmere button-back sweater costs 259.12 dollars (169.80 pounds) if you’re a customer in New York. British buyers, however, pay 238.25 pounds, a mark-up of a staggering 40 percent. There is a similar mark-up on a men’s Ludlow club blazer costing 462.72 dollars (303.22 pounds) in America but 423.57 pounds for British customers.
J.Crew say the higher costs take into account ‘the inescapable fact that costs in the UK are significantly higher than in the US’.
Marc Gander, founder of the Consumer Action Group, has a different opinion. Gander stated: ‘For some reason, American companies seem to think that the British public are able to pay a lot more than American consumers.
‘It certainly seems very unfair. In this economic crisis some people are having a bad time but others are still prepared to pay more for designer brands – and the US is cashing in on that market.’