New York City Awards Trademark License to J. Crew Group for Merchandise

NYC Tourism + Conventions, Inc. (formerly known as NYC & Company), on behalf of the New York City Department of Small Business Services ( SBS ) has awarded a Sole Source License Agreement ( License ), pursuant to Section 1-16 of the Concession Rules of the City of New York, to Chinos Intermediate 2, LLC, DBA J.

Crew Group, LLC whose address is 225 Liberty Street, 17th Floor, New York, NY 10281 for the non-exclusive use of city-owned trademarks on merchandise.

The License Agreement will provide for a license term beginning on Jan 1, 2025, and shall continue through December 31, 2026 (the initial term ), with an option to renew the agreement for an additional 2 year(s), from January 1, 2027, to December 31, 2028 (the renewal term ). For the initial term, Chinos Intermediate 2, LLC DBA J. Crew, LLC.

shall pay licensing fees equal to Twelve percent (12%) of Net Sales when sold at Wholesale and Six percent (6%) of Net Sales when sold at Retail (as defined in the License). Chinos Intermediate 2, LLC DBA J. Crew Group, LLC shall also be responsible to pay a Minimum Guaranteed payment of Five Thousand dollars ($5,000) by 12/31/26.

The parties shall have the option to renew this License Agreement on substantially the same terms and conditions for the renewal term. Agency: Small Business Services Status: Award