J.Crew Hints At Lower Prices, Follows Up With “LOL JK”

Do you guys remember when J.Crew was, well, not exactly affordable, but, like, normal people could shop there? I spend a ridiculous amount of time reminiscing about the days when I could save up a few extra bucks from my freshman work study job and pop into J.Crew for a nicely made cardigan. Sigh. But wait! Is a more accessible J.Crew poised to make a comeback? Based on a statement from CEO Mickey Drexler, it seemed possible: “For spring, you’ll see our prices much more friendly this year,” he said during a speech at Parsons this week. Exciting, right?

Unfortunately, a J.Crew spokesperson swooped in to release the following party-pooping statement right after Drexler’s words hit the internet:

“We are not lowering our prices. We are simply maintaining a balance of pricing across the board and better communicating to our customers what we have and why it is worth the price it is. Emphasis for us is always on the quality and design at best possible price.”

While I totally agree with the importance of high quality and am more than willing to pay more for a well-made garment, my personal experience with J.Crew hasn’t matched up with their grand claims. I’ve seen their prices rise astronomically (dresses from $300 to $500 are now pretty standard), while the quality (and “Made in China” labels) have stayed pretty much the same. What do you guys think? Do their current price points seem about right to you? Too high? Too low? [Racked]