We love us a little bit of J.Crew. But considering their prices can go up to聽around $200 for a cashmere sweater to over $100 for a pair of jeans, we won鈥檛 say it鈥檚 the most affordable place to shop 鈥 and apparently J.Crew knows it. The brand announced today that they鈥檒l be opening a new store called 鈥J.Crew Mercantile鈥 that聽will offer a lower price point聽for the quality basics we love the brand for.

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In a statement released聽on Friday, the brand says, 鈥淛.Crew Mercantile stores will feature a collection of value-driven merchandise with classic J.Crew style for women, men and children. Once only available in J.Crew Factory stores (the brand鈥檚 outlet), the collection is designed exclusively for J.Crew Factory and now J.Crew Mercantile. Located in convenient retail centers, J.Crew Mercantile stores will make the collection even more accessible to customers.鈥

J.Crew Mercantile will open up its first store in Dallas, TX in late July, with plans to open more locations in the future.聽

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This news comes just after the brand made headlines for laying off 10% of their corporate employees. They鈥檝e聽also recently been criticized for releasing garments poor in quality while still charging sky-high prices. Could this new store be the start of a more affordable J.Crew? Our currently lacking聽cashmere collection certainly hopes so.

What do you hope to find at聽J.Crew Mercantile? Share with us in the comments below.

(Photos via J.Crew)