J Crew chairman reached out to Amazon regarding potential sale
J Crew chairman Mickey Drexler says his company contacted Amazon [NASDAQ: AMZN] regarding a potential sale of the New York Coty-based clothing retailer, Re/Code reported Thursday.
At a conference Thursday, Drexler said during an interview that TPG-owned J Crew, of which Drexler said he retains 10% ownership, visited some team members of Amazon chief executive officer Jeff Bezos regarding a possible sale, which he said would have been a very intelligent move. He said Walmart and Target also should have made such a move, the article reported.
A sale to Amazon, of Seattle, Washington, would have given the online retail giant some clout in style, Drexler contended, Re/Code reported.
J.Crew recorded revenues of USD 2.42bn for the year ended 28 January 2017.