Mickey Drexler Biography
Mickey Drexler is a businessman and investor from the United States who is now the CEO of Alex Mill and the founder of Drexler Ventures. He formerly served as the CEO and Chairman of J.Crew Group and the CEO of Gap Inc. From 1999 to 2015, he served on the board of directors of Apple Inc.
How old is Mickey Drexler? – Age
He is 77 years old as of 17 August 2021. He was born in 1944 in Bronx, New York, United States. His real name is Millard “Mickey” S. Drexler.
Mickey Drexler Family – Education
His mother died when he was 16 years old, and he was born to Jewish parents in the Bronx. He attended Bronx High School of Science, City College of New York, and the University of Buffalo for his education. Later, he earned a master’s degree in business administration from Boston University.
Mickey Drexler Wife – Son
He is married to Peggy Drexler, a documentary filmmaker, author and research psychologist. The couple has been married since 1969. The couple has a son Alex Drexler, who is also a businessman and the co-founder of the clothing brand Alex Mill.
Mickey Drexler Gap
Gap’s spectacular rise during the 1990s is largely linked to Drexler. Gap had been a modest business selling private and public brands prior to his engagement. Under Drexler’s leadership, the company made a significant transition to private label brand items and quickly developed to become an iconic aspect of 1990s pop culture, with slogans like “khakis, basics, and casual Fridays.” The comfortable American casual image that typified the Gap brand was shown in television commercials utilizing tunes like “Mellow Yellow” and “Dress You Up in My Love.”
Drexler was forced to announce his retirement by Gap founder Donald Fisher on May 22, 2002, due to a sales slump and ballooning debt, as well as his management style, which clashed with the Fisher family. Drexler remained CEO until September 26, 2002, when he was succeeded by Paul Pressler. Drexler was enraged by his dismissal, but it was vindicated when sales increased one month later.
Mickey Drexler J.Crew Group
The J.Crew Group, a New York City-based apparel and accessory company, was started in 1983 with the introduction of its catalog and expanded into brick-and-mortar retailing in 1989 with the opening of its first store at the South Street Seaport. Drexler was hired as chairman and CEO of J.Crew in 2003, following his unexpected departure from Gap. Drexler wanted to reinvent the J.Crew brand as a true premium boutique, using Gap-style methods. What began as a low-cost, dressy-casual American company evolved into an expensive, dressy-vintage American brand with “frills included.”
On June 5, 2017, it was reported that Drexler will be stepping down as CEO. He’d been unable to reverse a several-year downward trend as customer tastes shifted. “J.Crew boosted prices and expanded during years when consumers got more and more frugal,” according to Drexler. Drexler announced his retirement as chairman on January 18, 2019, but will continue to serve as a strategic advisor to the Office of the CEO and the board.
Is Mickey Drexler a Billionaire? – Net Worth
He has an estimated net worth of $200 Million.