If you hadn't already gotten excited about the rumors that J.Crew is planning to launch a chain of lower-priced stores called Mercantile, then you won't be disappointed to learn that it might not even happen.
In an interview with WWD, J.Crew CEO Mickey Drexler said all the reports that his company is working to launch a less expensive concept (lower in cost, according to some, than its J.Crew Factory merchandise) are "distorted beyond the reality" of what Mercantile is. So what is it?
"Mercantile is a name we own. There's not much beyond that. It's a name that was available and we liked. The way we run the company, we are always thinking creatively, innovating, and managing our assets. We have secured names and trademarks with either loose ideas or intentions, or with our imaginations. Sometimes things come of it, or they don't."
At this point, Drexler and his camp are simply "exploring whether or not we use it."
—Details associate online style editor Justin Fenner.