Home Videos Photos

J. Crew Gets Acquired For Billions Of Dollars

| Filed under: Fashion SmashionKatie HolmesBarack ObamaOprah WinfreyBusiness BlitzMichelle ObamaJ Crew

ap060821023185_e__opt.jpg

Despite having Katie Holmes and other celebs model for them, or even the Obama girls wearing their outfits during the 2009 inauguration, J. Crew’s financial problems were just too much.

According to an announcement from the company, J. Crew will be acquired by two investment firms.

And the firms, TPG Capital and Leonard Green & Partners, will be spending $3 BILLION for the acquisition!

According to J. Crew’s Chief Executive, Millard Drexler, the acquisition "is a clear endorsement of J.Crew and of the hard work and commitment of each and every one of our associates.”

Let's see if they do something to boost sales.

Hopefully Oprah didn't invest too much in J. Crew to suffer a loss if all doesn't go well.

[Image via AP Images.]

Tags: , , , ,

All Of Kendall Jenner's Runway Looks So Far!
All Of Kim Kardashian's Paris Fashion Week Looks!
13 Celebs Who Broke Up & Still Had To Work Together
Kerry Washington: The Complete Style Evolution!
Celebs Who Follow Intense Diets And Fitness Regimens!
Best Dressed Celebs Of The Week
Email this  »

Comments are closed.