Millard S. Drexler | |
|---|---|
| Born | (1944-08-17)August 17, 1944 (age 81) New York City, U.S. |
| Alma mater | University at Buffalo (BS) Boston University (MBA) |
| Occupation | Businessman |
Millard "Mickey" S. Drexler (born August 17, 1944) is an American businessman, who is the CEO ofAlex Mill, and head of Drexler Ventures.[1] He was formerly the CEO and chairman ofJ.Crew Group,[2] as well as the CEO ofGap Inc.[3][4]
Mickey Drexler was born toJewish parents inthe Bronx. His mother died when he was 16.[5] He studied at theBronx High School of Science,[6]City College of New York, andUniversity at Buffalo. He later received an MBA fromBoston University.[5][7] He used to live inSan Francisco,California but moved to New York to continue working forGap Inc.[8]
In the mid-1970s, Drexler was amerchandising vice-president atAbraham & Straus inBrooklyn, New York. He has also worked atAnn Taylor,Bloomingdale's, andMacy's.[9] He was onApple Inc’s board of directors from 1999 until 2015.[10]
Drexler is often credited with Gap's meteoric rise during the 1990s. Prior to his involvement, Gap had been a relatively small chain selling private and publicbrands. Under Drexler the company made a dramatic shift toprivate label brand merchandise and expanded rapidly to become an iconic part of1990spop culture, such as "khakis, basics and casual Fridays".[11] Television advertisements featuring songs such as "Mellow Yellow" and "Dress You Up in My Love" showcased the relaxed American casual look that defined the Gap brand.[12][13] During his time at Gap Inc. he had worked alongsideSteve Jobs, who was a board member of Gap Inc. at the time and a friend of Drexler.[14]
On May 22, 2002, however due to a sales slump and ballooning debt, plus his management style which clashed with the Fisher family, Drexler was abruptly forced to announce his retirement by Gap founderDonald Fisher. Drexler stayed on as CEO until September 26, 2002, whenPaul Pressler was named as his successor. Drexler was bitter about his ouster but it was validated when sales rebounded one month after his departure.[15]
The J.Crew Group, an American clothing and accessories retailer based inNew York City, was founded in 1983 with the launch of itscatalog and expanded intobrick-and-mortarretailing in 1989 with its first store at theSouth Street Seaport in New York City. J.Crew hired Drexler as chairman and CEO in 2003 after his abrupt departure from Gap. Applying similar strategies from Gap, Drexler sought to reposition the J.Crew brand as a truly upscale boutique. What was once a low-priced, American, dressy-casual brand became more an upscale, dressy-vintage American brand with "frills included".[11]
On June 5, 2017, it was announced that Drexler would step aside as chief executive. He had been unable to stop a several year slide as consumer tastes changed.[16] Drexler noted that "J.Crew raised prices and underwent expansion during years when consumers became more and more thrifty".[17] On January 18, 2019, Drexler announced his retirement as chairman, but will remain a strategic advisor to the Office of the CEO and the board.[2]
As of 2021, Drexler is the CEO ofAlex Mill, a clothing brand started by his son.[18]
Drexler has made a guest appearance in an episode of theAMC dramaBreaking Bad calledConfessions, in which he plays a car wash customer. Drexler said his scene took nine takes to film.[19]
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