J Crew Is Asking For 2 Billion 860 Million Dollars To Sell.

As sales fell sharply,

Group (JCG.N) agreed to Acquire $2 billion 860 million, but Wall Street financial people expect the US.

Retailers may attract more investors to offer better prices.

On the basis of previous proposals,

And Leonard Green & Partners LP will be acquiring company shares at a price of 43.50 per share.

Previously announced share prices were 15% higher.

The company's original chairman and CEO Millard Drexler will continue to retain its original position and master the overall situation of J Crew.

Millard Drexler originally held an important position in GAP. Since joining J Crew in 2003, it has brought the brand into a new scene. He positioned J Crew as a brand between Gap and Ralph Lauren.

The popularity has been greatly improved.

meanwhile

Me too.

One of the major shareholders is worth $128 million.

stay

During the ruling period, J Crew has been developing rapidly. There are 244 retail outlets and Outlet27 houses, and there are also mail order and online shopping businesses.

TPG bought its J Crew stake for the first time in 1997, buying 88% of the brand.

After J Crew was launched in 2006, TPG sold its shares.

So this is the second time that TPG has bought J Crew shares.

But for professionals, the two sides are still at the stage of negotiating prices, and perhaps there will be changes in the future.

They believe that there will be other private capital investment in J Crew, and the price per share will rise to more than $46.

But neither the three parties of J. Crew, TPG nor Leonard Green commented on the matter.

J Crew grew slowly this year, and its income dropped considerably. In October 30th, its share price fell to $37.8 per share, down 13.8% compared to the same period last year.

In the three quarter, the brand loss was $1 million, and the annual brand loss totaled $10 million, although it was better than the brand's $13 million expected, but the situation is still not optimistic.

Brand lack of individuality and lack of new design are the main reasons for the decline of brand.