Millard (Mickey) Drexler is presented with his 2008 World Retail Hall of Fame medal.
From left: Ian McGarrigle, World Retail Congress & Awards Director; Millard (Mickey) Drexler, CEO and Chairman of J. Crew; Michael Jary, Worldwide Managing Partner of OC&C
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.
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.
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