Madewell IPO continues forward

The J.Crew Group has announced that it has reached an agreement that will officially separate its denim brand, Madewell, into an independent company. In a press release from the company, Michael J. Nicholson—the company’s president, chief operating officer and interim chief executive officer—shared that the terms of the transaction will also allow the company to “pursue a proposed IPO of Madewell and recapitalize [J.Crew Groups] balance sheet.”