As J.P. Morgan Chase loosens its neckties, it may replace them with a fleece from Vineyard Vines.
As the company transitions to a business casual attire, it partnered with its client Vineyard Vines to host a pop up shop at its Park Avenue headquarters, the Wall Street Journal reports. J.P Morgan (JPM), America’s biggest bank, is also planning on opening pop-up shops at its New York, Wilmington, Del., and Columbus, Ohio, locations later this year, Chief Marketing Officer Kristin Lemkau told the Journal.
This comes after the bank sent an internal employee memo allowing workers to wear business-casual attire on most occasions. The decision was made by CEO Jamie Dimon after he visited Silicon Valley and decided the where he felt the bank’s current buttoned-up dress code didn’t match with other industries.
The specifics of the new dress code indicate that business casual is safe for work in most settings. Baggy or revealing clothing are still banned, as is athletic clothing. With managerial permission, jeans and “athletic shoes” are okay, but polo shirts are allowed. Employees are still expected to dress up for clients, and investment bankers are still required to suit up. Managers reserve the right to tell an employee to change or go home if their attire isn’t up to snuff.
The pop up shop will feature J.P Morgan specific items, such as a fleece vest with J.P. Morgan branding or a custom Vineyard Vines tie with the bank’s blue octagon logo. The bank is also talking with Lands’ End (LE), which makes apparel for its branches, and popular handbag and womenswear designer Rebecca Minkoff, according to the Journal.
Other companies are dressing down, too. BlackRock (BLK) told employees that its further relaxing its attire, allowing jeans so long as there aren’t client meetings. Accounting firm PricewaterhouseCoopers LLP also moved to a more casual dress code that allows jeans in similar circumstances, according to the Journal.
The pop-up shop “shows that such an iconic institution like J.P. Morgan Chase knows how to have fun, knows how to partner with up-and-coming companies,” Vineyard Vines co-founder Shep Murray, who created the company about 18 years ago with his brother Ian, told the Journal.
The shop opened on Monday in J.P. Morgan’s headquarters lobby and will run through July 8. Vineyard Vines also makes apparel for the bank’s branches.