While J Crew is known for selling preppy clothing at high prices, Madewell launched in 2006 as a boutique denim jeans brand with tops and jackets that shoppers wear jeans. It has expanded to the basics of wardrobe, shoes, bags and other accessories. Madewell lends to investors as an inclusive, sustainable gear brand that has a good track record of pulling Millennials. Most of his jeans cost between $ 1[ads1]00 and $ 150.
Madewell reached more than $ 600 million in sales during fiscal 2018, up from $ 248 million in 2014, according to the filings. As of August, the Madewell company operated 132 small American stores, mainly in exclusive shopping malls and on street corners. Around 60% of Madewell's customers participated in its membership program last year and 37% of sales came online, it says.
"While J.Crew continues to struggle, Madewell has emerged as the company's crown jewel and accounts for most of the profits," said Raya Sokolyanska, senior analyst at Moody's. A successful Madewell IPO can help J Crew pay down a "meaningful portion" of debt.
Libby Wadle, a veteran of J Crew who has been involved with Madewell, will continue as the brand's CEO.
"I have been a part of Madewell from the very beginning, including the original incubation period," she said in the filing. "We're on a mission to get more butts in our jeans."
Madewell said it plans to grow by gaining brand awareness, opening 10 to 15,000 square feet of stores a year, expanding product selection and testing international markets.