J. Crew launches new brand: J. Crew Mercantile

J. Crew has launched a new line of stores known as J. Crew Mercantile. The collection will feature value-driven prices on clothing for men, women and children. The Mercantile collection was previously only available in J. Crew Factory stores and will now be at branded locations as well.

The first J. Crew location is planned to open in July at The Shops at Park Lane in Dallas, Texas.

The apparel retailer has been struggling over the past few years and hopes to increase profits by offering shoppers a less expensive collection. The move is similar to what some other fashion retailers are doing in order to make up for name-brand losses. For example, the Gap (NYSE:GPS) has posted several financial losses over the past few years—announcing last month that it will close 175 stores and lay off 250 employees—but its less expensive, trendier brand, Old Navy, has had quite a bit of success.

J. Crew is attempting to turn around the brand in other ways, and announced the firing of its head designer and 175 employee job cuts last month.

For more:
-See this J. Crew press release

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Article updated on July 13, 2015 to correct the city of the new J. Crew location to Dallas, Texas.