J. Crew's upcoming foray into London has already sparked a backlash in the U.K. press.
An article by The Telegraph on Tuesday reported that the retailer's new Regent Street store has "largely swapped pound signs for dollar signs," bumping prices nearly 60 percent higher than in the U.S.
CEO Mickey Drexler told CNBC he finds it "a little stunning" that the brand is being called out on raising prices, as it's typical across all types of business to raise prices overseas, where the cost of doing business is higher.
"There's nothing to explain," he said. "When has it been that prices in the U.K. for American products haven't been higher?"
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