Dive Brief:
- Madewell, owned by J. Crew Group, is expanding its footprint with three new stores opening in May and June, in New York, Connecticut and Oregon.
- Following a successful 2024 pop-up in the Hamptons co-branded with Goop, the apparel retailer on Wednesday will open its first Sag Harbor, New York, location — its fourth on Long Island.
- In June, the brand will open two dual-concept stores, selling men’s and women’s clothing, in Greenwich, Connecticut, and Bend, Oregon.
Dive Insight:
A few years ago, Madewell was on a roll, opening stores and contemplating going public. After launching its first men’s collection in 2018, it began opening men’s-only locations.
But the brand, with about 150 stores, hasn’t expanded much of late, and has long since nixed its Wall Street ambitions, after some analysts saw J. Crew Group overestimating the brand’s value. Without that sale to boost its bottom line, J. Crew Group took a spin through bankruptcy in 2020.
Since then, Madewell has grown only slowly. Its fleet isn’t much bigger than sibling J. Crew, which runs about 100 full-price locations, and is overshadowed by J.Crew Factory, which runs more than 330. By contrast, in North America alone, Gap Inc. runs 1,250 Old Navy stores, over 450 Gap stores, nearly 400 Banana Republic stores and 260 Athleta stores.
