Is London’s Beloved New Arrival For Sale?

ALTHOUGH industry rumours abound this morning that J Crew is set to be sold by its owners, TPG Capital and Leonard Green & Partners, the brand isn't confirming anything yet.

"We don't comment on industry speculation," was all that a spokesperson was able to say this morning.

Sources suggest that the label is heading for an IPO in the new year, although there are said to be other private owners hoping to acquire the blossoming brand.

"It's certainly not out of the question," a source told WWD. "There's been a lot of interest from people around the world who would like to acquire or partner with J Crew."

J Crew opened its first stores in London earlier this month - a flagship on Regent Street and two smaller stores; on Lamb's Conduit Street, stocking menswear, and on Draycott Avenue hosting the J Crew Collection.

The brand revenues increased by 11.3 per cent last quarter to $422.3 million (£260.7 million).