Word: drexler
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...bottom line? Compared with most retailers, the company has stayed strong since the economic downturn began. "J. Crew continues to be one of the few retailers offering differentiated and unique merchandise to customers," analyst Christine Chen wrote this month in a report for Needham and Co. CEO Mickey Drexler, ex-chief of the Gap, has jump-started the brand by revamping the quality of its merchandise. But the economic downturn has not left J. Crew unscathed - profits fell 6% through the first three quarters of fiscal 2008. "It's a huge deal," says Marshal Cohen, retail analyst...
They may share a CEO, but J. Crew and its new offshoot, Madewell, are worlds apart. Madewell?more casual, less expensive and a bit more bohemian than J. Crew?was a defunct workwear company when Mickey Drexler bought the name shortly before he joined J. Crew. In 2006, Drexler assembled a team to revive the brand in a new format. Since warming up in markets across the country, Madewell has opened its New York City flagship. The two-story store (below) successfully conveys the brand's spirit with original 1882 moldings, floors and fireplaces, and a brilliant contrast of stark...
...Crew: CEO Mickey Drexler managed to take a company that competed with the Gap selling t-shirts and khakis and revamp its merchandise on quality and price. He made the designer business affordable through brilliant product development. Now customers get cashmere sweaters and tailored suits for less than high-end labels. "It's perceived exclusivity," says Chen. "It's pretty accessible and for their customer it's a bargain." J. Crew might still sell some basics, but they do it better than anyone else. Their fiscal year ended February 2 with revenues increasing 16% and comparable store sales...
...chairman Rupert Murdoch [July 9]. He has transcended the temptation to use his acquisitions to promote his personal ideology. Instead, he appears to have sought a balance by creating a powerful and profitable media dialogue that feeds on its own contrary products. Thank you for reporting this story. Art Drexler, San Diego...
...Drexler, SAN DIEGO...