The news is starting to spread about the return of a proper J. Press retail store to New York City. Yesterday the Wall Street Journal reported on it; WSJ subscribers can log in and access the story here.
For the rest of us, here’s a snippet:
Preppy clothing retailer J. Press said it is trying to ignite U.S. sales by opening a store in the Midtown Manhattan building that houses the Yale Club this October.
The 112-year-old haberdashery said it closed its 4,100-square-foot flagship store on Madison Avenue in 2014 after it couldn’t renew its lease because of a building renovation. J. Press now will be opening a new 2,800-square-foot store on Vanderbilt Avenue, near Grand Central Terminal.
The move near the Yale Club is one of the biggest investments for the brand in a long time, according to Jun Murakami, chief executive officer of Japanese company Onward USA, whose parent owns J. Press. He added the Midtown space is expected to generate 25% of total U.S. sales.
Mr. Murakami also said he forecasts 30% of J. Press’s sales will be generated online in the near future, and the company hopes to increase that number to 50% by relaunching its website and boosting its presence on social media.
The proximity to the Yale Club represents a homecoming of sorts for J. Press, which began by selling ties, belts and odd trousers near the school’s New Haven, Conn., campus in 1905. The brand is known in preppy circles for its embroidered collegiate logos and cocktail-themed accessories such as needlepoint martini-themed cuff links.
And here’s a snapshot of the hard copy provided by Richard Press, who is quoted later in the piece. Along with the 50th anniversary of RL, this looks to be the biggest story of 2017. — CC