The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The American retailer confirmed Tuesday that it has eliminated less than 3 percent of its corporate headcount as part of reorganisation efforts.
“We have conducted a comprehensive review of our organization and made decisions to support efficiency and long-term growth,” a J.Crew Group spokesperson said in an email statement. “Part of this initiative has been making organizational changes and streamlining functions which has impacted a limited number of roles.”
J.Crew joins a number of brands and retailers to have cut jobs this year, including Neiman Marcus, Ssense, The RealReal and Everlane.
Learn more:
Tech Firms Keep Laying Off Workers. Is Fashion Next?
While job losses aren’t happening at the same pace as in Silicon Valley, retailers facing slowing demand and rising operating costs are starting to make cuts.
Artists, record labels and music festival organisers are collaborating with coveted labels to design better-quality, fashion-forward merch, sold at higher price points than before.
Rent the Runway and Stitch Fix will give updates on their turnaround efforts. That, plus what else is in store for the coming week.
Krishna Nikhil has stepped down for family reasons after just over 18 months at the helm of eco-innovation brand, the company said.
The luggage and lifestyle brand is expanding its product and marketing strategies while launching collaborations and pop-up stores as its founder, Shay Mitchell, eyes expansion and profitability after five years in business. BoF learns more.