The Power 100DNR
Oct. 27, 2008
7. Mickey Drexler
Men’s wear is on the mind for the merchant prince this year. Mickey Drexler, CEO of J.Crew Group, unveiled his first stand-alone men’s store in August in the site of the former Liquor Store Bar in Tribeca. The 925-square-foot jewelbox at 235 West Broadway has set a new standard with its unique merchandising techniques. Neckties tucked into tumblers, folded cashmere sweaters nestled on the bar and many of the original touches, including the lights, fireplace and historic neon sign on the exterior, all serve to showcase the curated assortment of men’s wear J.Crew chose exclusively for this location.
Another men’s-only store is set to debut at the Garden State Plaza mall in Paramus, N.J., on Nov. 14. This will offer more-upscale merchandise than the typical mall store but will not replicate the Liquor Store.
This focus on men’s stores is viewed as the company’s “opportunity to reposition, reinvent our men’s business and do something that we don’t see being done by other retailers in our industry,” Drexler said in September during a second-quarter conference call. The company also made a change in its top men’s merchant last week, naming Frank Muytjens vice-president of men’s design, succeeding Todd Snyder, who is leaving to launch his own men’s collection.
Although the Liquor Store men’s shop is doing well, J.Crew too has felt the results of the consumer pullback in spending. In Q2 it reported profits fell 12.2 percent on a 10.4 percent gain in sales. But the $1.4 billion company is remaining true to its mission, which is to offer high-quality product at a reasonable price—product that isn’t found in every store in every mall.
“We’re trying to be world curators and editors,” Drexler said earlier this year. “The more ubiquitous something becomes in America, the less special it becomes.” Last year’s rank: 15. Power prediction: J.Crew sets additional locations for men’s-only stores.
What are your thoughts on Mickey's addition to the list (and jumping from 15th place to 7th)? Do you agree or disagree with J.Crew's mission (as stated above)? What do you think J.Crew should do next?
Eh, honestly I'd like to see a change in fitting for JC's pants. They're always tight around the waist, but extremely loose around the leg & but-tocks. That's find though, I'll just continue to do my shopping for any sort of pant at Banana Republic. I find them to be a bit more snug. Anyone agree with me? Oh, & I'm commenting specifically on menswear of course.
ReplyDeleteI think it's great Mickey moved higher in the rankings.
ReplyDeleteAs for the J.Crew *mission* and their becoming *world curators and editors*...only time will tell...
Love that Mickey is trying to do something fresh w/ men's wear, but, JCrew needs to get on the bandwagon and offer more incentives to buyers in this economy! Wish some jcrew guys would review the men's store for us!
ReplyDeleteI work at banana Republic and manager or boss or store owner, whatever was who i worked with last night, and she's the one who goes to the big BR meetings and brings back all the information from like New York or wherever their last meeting was. Anyways i was telling her i love J.Crew and i wonder how their employment system is similar to ours, and she told me how the president of J.Crew used to be the president of Banana Republic. She said he's a complete jerk and everyone knows it, but he's a good business man.
ReplyDeleteAnyways i just thought that was interesting.
I think J.Crew basically needs to maintain their current direction with a reduction in the number of items produced. The menswear offered is quite strong in my opinion. It's not what I would call directional, but it's certainly on trend with the whole preppy Mad Men look that's being shown by big desingers like Michael Kors.
ReplyDeleteI actually think J.Crew is like Michael Kors both in design and look. While Kors has much more expensive fabrics the two companies are quite similar from what I've seen.
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