New York – J. Crew is reportedly planning to expand into Asia. According to the Wall Street Journal, J. Crew will open two new stores in Hong Kong on May 21.
The Hong Kong stores will be J. Crew’s first Asian stores since it closed its stores in Japan in 2008. In 2012, J. Crew said it planned to open stores in Hong Kong, and the U.K., and opened three U.K. stores in 2013. The retailer plans to open five or six stores in Hong Kong in the next few years, and may also open new stores in Japan.
Media reports have indicated J. Crew is possibly seeking to sell itself, and having an Asian presence would boost its value to investors.