Apparel Online India Magazine December 1st Issue 2018 | Page 13

RETAIL CURRENT
Amid falling sales and debt, J.Crew gets another
jolt as its CEO quits!
The US-based apparel brand
J.Crew has been hit with an
unexpected exit of its CEO, James
Brett just after one year of the
retail veteran taking over the
charge of the brand back in 2017.
His departure was carried out
in a mutual agreement between
the brand and James. In a press
statement issued, the American
fashion label cited that the duties
of Brett will now be performed
by four senior-level executives of
the company including Michael
Nicholson, COO and the company’s
President. The company is facing
a difficult time in the current fiscal
year as it has registered a net loss
of worth US $ 18.5 billion. The
company is currently also under
US $ 1.7 billion of debts.
The apparel label also marked
out that it was James who
managed to bring the brand
into a position of strength by
enhancing its capability to
be able to relate to a varied
range of customer base and a
relaunch was carried out under
his leadership which yielded
positive results for the company.
James was quoted as saying
that, “Company’s board and I
were unable to fill in the gap of
our beliefs on how to continue
to evolve all aspects of the
company.” With James not in the
fray, it remains to be seen how
the popular clothing brand picks
itself up and starts producing
results that are expected by its
shareholders for a long time.
Nike clubs physical and digital shopping with
‘House of Innovation' at NYC
Nike has opened a new cutting
edge flagship store in New York
City called the Nike House of
Innovation 000. Spanning six
floors and 68,000 sq. ft. in area,
the House of Innovation 000
at Fifth Avenue in Manhattan
offers an immersive shopping
experience that combines
traditional shopping with the
company’s digital app to create a
futuristic shopping experience. It
incorporates all of Nike’s digital
advances and combines them
with some new ones to serve all
kinds of customers, from the in-
and-out shopper to the hardcore
sneakerhead. “This is one of our
most bold and confident moments
on our journey of innovation,”
said Heidi O’Neill, the President
of Nike’s direct-to-consumer
business. Shoppers at the store
will be able to tap an app to not
only try on an outfit, but to buy it
as well. By scanning the QR code
on a mannequin, customers can
get information on the clothing and
footwear it’s showcasing, including
sizes and colours. Then with
another click, they can have the
merchandise they’re interested in
brought either to a dressing room
or directly to them. That frees
customers from having to carry
clothing while shopping.
Later, if they like what they see in
the mirror, shoppers can use the
same app to scan their purchases,
pay for the items, then head out
of the door. There are no cash
registers in the new store. Also, the
innovation store offers customising
services to the consumers. Shoppers
will be able to create totally unique
products through Nike’s Sneaker
Bar where they will have access to
Nike’s dip-dyeing, footwear printing,
embroidery, footwear patches,
lasering as well as a full footwear
accessory bar of laces, zippers and
tongue tags. There is also a focus
on personalisation and finding
the perfect fit. This store includes
the largest concentration of Nike
footwear from around the globe on
the fifth floor, a turn-on for the Nike
sneaker fans.
www.apparelresources.com | DECEMBER 1-15, 2018 | Apparel Online India
13