Seeking ways to revive its fortunes, J. Crew, the US clothing chain, is reported to be preparing for an initial public offering (IPO) of its Madewell apparel business. The IPO is intended to face competition from e-commerce firms such as Amazon.com as well as brick-and-mortar retailers.
J. Crew was taken private in 2011 by private equity firms TPG and Leonard Green & Partners LP in a $3 billion leveraged buyout. Madewell has experienced rapid growth, and makes up about 20 percent of the company’s overall revenue.
In February 2019, Gap announced plans to separate its better-performing Old Navy business into a publicly traded company.