Crew, the preppy retailer that has been struggling to find its footing in recent years, may spin off its Madewell brand by the end of 2019. The company said on Thursday that it was exploring a potential initial public offering for Madewell, which could be completed in the second half of 2019, as it looks to raise much-needed capital. A potential Madewell I.P.O. The announcement puts a spotlight on J. Crew’s challenges with merchandise and leadership in the past few years and the divergent fortunes of its newer, though much smaller, Madewell brand. It was taken private in 2011 in a $3 billion deal led by TPG Capital and Leonard Green & Partners.

Source: New York Times April 11, 2019 22:56 UTC