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J.Crew Says There Are No Plans for 'Mercantile' Brand Yet

Don't get your hopes up for that lower-priced J.Crew store. At least, not yet.

Last week, reports surfaced that J.Crew was planning to open a lower-priced chain called J.Crew Mercantile. At the time, a rep for the retailer said it was too early to comment on the trademarked named -- and now, the company is saying that J.Crew Mercantile could turn out to be nothing at all.

 “Mercantile is a name we own. There’s not much beyond that. It’s a name that was available and we liked," Mickey Drexler told WWD

“It doesn’t require any work to register a name,” Drexler continued. “Most of the time, things don’t come out of it. We are always focusing on our existing businesses.”

So, perhaps there are no plans for a lower-priced, non-outlet-style J.Crew. Or perhaps there are, and it will be called J.Crew Mercantile, and Drexler doesn't want to talk about it yet.

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A J.Crew spokesperson did not immediately respond to a question about whether any work has been done on Mercantile beyond registering the trademark for the name.