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News Release

Jim Brett Joins J.Crew as Chief Executive Officer

Appointment of experienced retail executive marks next step in company's pursuit of sustainable growth
Millard Drexler continues in his role as Chairman

NEW YORK, June 5, 2017 /PRNewswire/ -- J.Crew Group, Inc. (the "Company") announced today that it has named James Brett as Chief Executive Officer. Brett, an executive with more than 25 years of retail experience, most recently served as President of specialty home furnishing company West Elm. Brett will assume the CEO position this July and will also join the Company's Board of Directors. Millard Drexler will continue in his role as Chairman. Michael J. Nicholson will remain as President, Chief Operating Officer and Chief Financial Officer of J.Crew Group, Inc. and Libby Wadle will remain as President of Madewell.

"This is an exciting time for J.Crew as we continue to make significant changes to position our company for long-term success," said Mr. Drexler. "As Chairman and an owner of the Company, it is my responsibility to focus on the future of J.Crew and find the right leadership to execute on our strategic plans."

Drexler continued, "Jim has a proven track record of pushing for innovation and growing omni-channel brands. I look forward to moving into my new role and assist Jim and the team in every way possible to help ensure a smooth and successful transition."

Brett stated, "I'm honored to work with J.Crew's talented team of leaders, board of directors and Mickey, who have built an iconic American brand. J.Crew has tremendous opportunity to play a more meaningful role in our lives, and I look forward to leading it through its next phase of growth."

Mr. Brett most recently served as President of West Elm, a member of the Williams-Sonoma, Inc. portfolio, since 2010, where he oversaw all aspects of the brand. During his tenure, Brett grew West Elm to become a $1 billion global brand. Prior to West Elm, Mr. Brett was the Chief Merchandising Officer for the Urban Outfitters Division of Urban Outfitters, Inc. He has also served in various merchandising roles at other retailers including Anthropologie, the J.C. Penney Company, Inc. and May Department Stores Company.

About J.Crew Group, Inc. 

J.Crew Group, Inc. is an internationally recognized omni-channel retailer of women's, men's and children's apparel, shoes and accessories. As of June 5, 2017 the Company operates 278 J.Crew retail stores, 116 Madewell stores, jcrew.com, jcrewfactory.com, the J.Crew catalog, madewell.com, and 178 factory stores (including 39 J.Crew Mercantile stores). Certain product, press release and SEC filing information concerning the Company are available at the Company's website www.jcrew.com.

 

To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/jim-brett-joins-jcrew-as-chief-executive-officer-300468943.html

SOURCE J.Crew Group, Inc.

Margot Fooshee, J.Crew, Margot.Fooshee@jcrew.com, (212) 209-8414

Certain statements herein are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company's current expectations or beliefs concerning future events and actual results of operations may differ materially from historical results or current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes in the overall level of consumer spending or preferences in apparel, the performance of the Company's products within the prevailing retail environment, trade restrictions, political or financial instability in countries where the Company's goods are manufactured, postal rate increases, paper and printing costs, availability of suitable store locations at appropriate terms and other factors which are set forth in the Company's Form 10-K and in all filings with the SEC made by the Company subsequent to the filing of the Form 10-K. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.