Mickey Drexler, J.CrewLAST YEAR: 52.
STAGE OF GLOBAL CONQUEST: J.Crew brand awareness increased thanks to an Obama stimulus, as the First Family wore the label for key photo ops (Michelle and her daughters on Inauguration Day, Barack that night at the balls). Revenues increased 2 percent in the first quarter, and the company’s stock price, which was as low as $9 earlier this year, has since rebounded past $30.
TRIMMING THE FAT: In March, J.Crew saved about $40 million by cutting 95 positions and suspending 401(k) matching contributions and merit-based wage increases for the entire workforce.
FLYING HIGH: In addition to his private-jet use (for which J.Crew paid $911,000 in 2008), last year Drexler, 64, started tooling around in a helicopter. He owns an interest in the chopper and gets reimbursed when he uses it for business.
EMPLOYEE RELATIONS: Drexler, who interviews everyone before they are hired to work at the company’s headquarters, likes to see coffee-shop and restaurant work experience on people’s résumés. He thinks service-industry employees know what hard work means.
I am excited to see Mickey back on the list and in a better position than last year! That speaks volumes about how J.Crew is performing. Also, I found it interesting that he takes out the time to interview everyone (at Corporate) before they are hired (considering how busy he must be). Also, it must be very nice to have a private jet! :)
What do you think about Mickey being a part of Vanity Fair's top 100? Do you agree or disagree with his improvement on the list? Were there any points made that you found particularly interesting? :)
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