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Uniqlo’s Parent Company Is Reportedly In Early Talks to Buy J. Crew

The Wall Street Journal reports J. Crew is seeking $5 billion and has talked to other potential suitors.

Uniqlo’s Parent Company Is Reportedly In Early Talks to Buy J. Crew
[Image: Flickr user epicharmus]

J. Crew is reportedly in preliminary talks to sell its business to Uniqlo’s parent company Fast Retailing in a deal that could reach upwards of $5 billion, the Wall Street Journal reports, citing an unnamed source familiar with the matter.

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The Japanese retailer reportedly approached J. Crew last week, though the U.S. brand is also in talks with other parties, purportedly seeking $5 billion for its sale, according to the Journal. It’s unclear if Fast Retailing is willing to pay that amount. TPG and Leonard Green & Partners LP, which own J. Crew, had also contemplated taking the company public this year, tapping Goldman Sachs for an offering in January, according to WSJ.

A Fast Company cover story last April on J. Crew’s executive creative director and president Jenna Lyons looked at how she revitalized the brand, helping unify the company’s retail, catalog, and web presence. In the story, she talks about balancing her dual roles, saying “no financial decision weighs heavier than a creative decision. They are equal.”

About the author

Based in San Francisco, Alice Truong is Fast Company's West Coast correspondent. She previously reported in Chicago, Washington D.C., New York and most recently Hong Kong, where she (left her heart and) worked as a reporter for the Wall Street Journal.

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