Report: J. Crew to launch new format for budget shoppers

New York -- J. Crew Group Inc. is developing a new store format in the budget fashion sector. The company has created a brand called “J. Crew Mercantile,” and filed an application to trademark the phrase for selling clothing and accessories, both online and in stores, according to a report by the Wall Street Journal.



The trademark application is still pending, the report said. The new brand would sell merchandise and prices that are similar to its J. Crew Factory outlet concept.



The report comes amid rumors of a possible IPO for the company, which was acquired by private-equity firms TPG Capital and Leonard Green & Partners LP.