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Planet Money

J. Screwed

Planet Money

NPR

Business, News

4.629.8K Ratings

🗓️ 23 May 2020

⏱️ 21 minutes

🧾️ Download transcript

Summary

This month, J.Crew went bankrupt. But not before inventing a whole new way of playing hardball with lenders. | Subscribe to our weekly newsletter here.

Transcript

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0:00.0

This is Planet Money from NPR.

0:07.1

When Renita Davis doesn't know what to wear, she has a backup plan.

0:11.0

My immediate default is a tippy and something.

0:14.4

A tippy and jeans, a tippy and a pair of slacks like that is my default.

0:20.8

You can't figure it out.

0:21.8

Renita grab a tippy.

0:22.8

The tippy.

0:23.8

It's a sweater made by J. Crue.

0:25.3

It has a round neckline.

0:26.8

It's a light marino wool.

0:28.4

Perfect for her job as a professor at the University of Kentucky.

0:31.5

You could wear the sweater by itself.

0:33.6

You can also wear it under a blazer.

0:35.6

And it just transcends the seasons.

0:38.2

I love, love, love.

0:40.6

Like, love the tippy.

0:42.6

J. Crue knows that its customers love the tippy.

0:45.6

They have a loyal following of people like Renita.

0:48.4

So they figure, what if we give them the tippy but different?

0:53.6

In 2014, they roll out the tilly.

0:56.7

They bill it as the tippy's, quote, shrunken cousin.

1:00.4

I was like, no, no, no, no, no, no, no.

...

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