Mickey made it into the World Retail Hall of Fame this year. The following is the story (click here for original link):A Gap without Mickey Drexler seemed unimaginable when he stepped down as CEO in 2002 after 18 years at the helm. Drexler joined the casual-clothing company in November 1983 as president of the Gap division when the company had just 550 stores. By the end of his tenure, Gap Inc. had grown to 4,200 stores.
Mickey Drexler came on board with a résumé dripping with merchandising and top-level experience from Ann Taylor, Macy's, Abraham & Straus and Bloomingdale's. At Gap as the company's stores got larger, so did his reputation. Drexler's role was key and he became Gap Inc president in 1987, adding the title of CEO in 1995. Smart brand management, coupled with a boom in casual work attire, brought in record revenue and earnings for most of the late 1990s and under Drexler's direction, the company grew from 400 million to 14 billion dollars in sales.
Mickey Drexler came on board with a résumé dripping with merchandising and top-level experience from Ann Taylor, Macy's, Abraham & Straus and Bloomingdale's. At Gap as the company's stores got larger, so did his reputation. Drexler's role was key and he became Gap Inc president in 1987, adding the title of CEO in 1995. Smart brand management, coupled with a boom in casual work attire, brought in record revenue and earnings for most of the late 1990s and under Drexler's direction, the company grew from 400 million to 14 billion dollars in sales.
In January of 2003, “Merchant Prince” Drexler joined fashion retailer J.Crew as Chairman and CEO. Over the past five years, he and his team have brought new inspiration to the J.Crew brand, taking it public on the New York Stock Exchange in June 2006. J.Crew Group recently launched two new companies: Crewcuts—a children’s collection for ages 2 through 10, and Madewell, a casual denim-based line of clothing for cool, hip women of all ages. J.Crew has expanded to 196 retail and 61 outlet stores across the country but Drexler has resisted rapid expansion – the store number is increasing at about 15% per annum – and he is determined to keep J.Crew’s growth based on store sales densities.
Do you think Mickey Drexler deserves the honor? (I know I do!) If you do or do not, what are the reasons for your position?
Alexis, sometimes I feel like we have really similar schedules. :) Right as I'm checking the blog seems to be when new posts come up!
ReplyDeleteHee, me too, Melanie, I guess we're all on-line at the same time.
ReplyDeleteI've said it before: my complete conversion to J.Crew-dom coincides with Mickey Drexler's arrival, so he is definitely doing something that works for me. But J.Crew is going to have to do something about its customer service issues before he'll get my unqualified approval.
The more I read about him the more I admire him.
ReplyDeleteThe more I here about this guy, the more I like him. I've always liked and bought J.Crew, but the last few years have been the best. I know Mickey Drexler didn't design the menswear line, but he has had a big influence on it.
ReplyDeleteAs stated before I am very happy with the direction it's headed and look forward to seeing more of his influence.
Merchant Prince is a great title. I have always looked at the catalogs and also online, but only really started purchasing in the past year. I am certain that the changes he has made overhauled the brand in such away that other new customers were attracted. Like I said before...I feel like I've found a home. I have spent years and thousands of dollars chasing a look and feeling. I'm finally achieving that with the clothes I've purchased from J Crew. Thank you, thank you, thank you.
ReplyDeleteI do think he deserves to be in the World Retail Hall of Fame...I look forward to seeing what the future of J.Crew holds with him in charge. :)
ReplyDeleteI think that he has done some great stuff for J.Crew. He is innovative, a good salesman, pays attention to his customers and seems like a good guy. I would say thats more than most CEO's could boast.
ReplyDeleteP.S. Melanie and Hexicon-- this is just about the one week I am not up late and have to be up early. It feels very weird.