Having someone with a r\u00e9sum\u00e9 like Mickey Drexler\u2019s onboard isn\u2019t the norm for most startups, but Mickey Drexler doesn\u2019t generally follow the norm. Born and bred in the Bronx (which Blasberg noted is a low-key fashion nesting ground, with Calvin Klein and Ralph Lauren also born in the borough), Drexler says he developed an \u201cinstinct\u201d for the business. He worked odd jobs for his father, who was in the garment industry, and landed a job right out of college at A&S department store in Brooklyn. He then went on to rise through the ranks at Bloomingdale\u2019s, Macy\u2019s, and A&S (again), until Gap\u2019s Don Fisher lured him to San Francisco to revamp (and eventually, save) the company.<\/p>\n\n\n\n
Drexler\u2019s r\u00e9sum\u00e9 is so <\/em>extensive, he accidentally left out a major chapter while going through it with Blasberg. While reminiscing about his time at Gap, Drexler suddenly realized that he had been president of Ann Taylor for four years: \u201cI forgot all about that,\u201d he said. As one does.<\/p>\n\n\n\n\n\n But back to Gap: In his 18 years at the helm, Drexler was behind some of the company\u2019s biggest successes (see: the famous khaki commercials<\/a>) and the launch of Old Navy\u2014which, it was announced earlier this year, is being spun off into its own public company next year<\/a>. Drexler\u2019s tenure in San Francisco also allowed him to develop a relationship with Silicon Valley\u2019s most elusive resident: Steve Jobs. <\/p>\n\n\n\n \u201cHe said, if you join my board, I will join your board,\u201d Drexler told Blasberg. Jobs, ever the innovator, had a specific goal in mind. \u201cHe wanted to do what Gap was doing in terms of creating his own stores.\u201d (More on that later.)<\/p>\n\n\n\n Drexler then famously went on to J.Crew, where he was CEO from 2003 until 2017, and remained chairman until January 2019. There, he launched sister brand Madewell, a name he had previously bought off a friend for $125,000 because he \u201cfell in love with it immediately.\u201d<\/p>\n\n\n\n No matter which brand he\u2019s called home, Drexler has brought his unique business sense to each of them. Here, a few nuggets of wisdom from the man himself\u2014whether you\u2019re diving into the startup world, launching a second (or third or fourth) act for a storied legacy brand, or simply could use some new perspective.<\/p>\n\n\n\n When Blasberg asked Drexler about the state of the fashion industry right now, he didn\u2019t hesitate: \u201cThere\u2019s too much of everything. Too much assortment, not enough beauty and good product.\u201d <\/p>\n\n\n\n Alex Mill\u2019s \u201cabout\u201d page echoes that sentiment with a self-awareness most fashion brands\u2014or any brands, really\u2014lack, stating: \u201cNobody needs new clothes right now. But everyone needs the right clothes. So we make them.\u201d <\/p>\n\n\n\n Ultimately, he said, it all comes down to purpose. \u201cYou have to have a vision. You have to think there\u2019s a reason for it.\u201d<\/p>\n\n\n\n \u201cIf I spend a half hour with someone and I don\u2019t learn anything, I don\u2019t want to work with them,\u201d Drexler said. \u201cI want to learn from them, I want to feel an energy.\u201d<\/p>\n\n\n\n Steve Jobs shared a similar philosophy, according to Drexler\u2014and that\u2019s what made him connect. \u201cSteve wanted to learn how to build the [Apple] stores,\u201d he said. \u201cA sign of good leadership is if you don\u2019t know something, ask someone who can help you.\u201d<\/p>\n\n\n\n \u201cNumbers were always very intuitive to me. To be successful, you have to feel and read the selling reports,\u201d he says. \u201cBut the data doesn\u2019t create the product.\u201d <\/p>\n\n\n\n When J.Crew launched Madewell, Drexler said, it took six years to turn a profit. Now, like Old Navy, it\u2019s rumored the company may spin off and file for an IPO<\/a>. Simply put, he said, \u201cit takes time, and energy, and a lot of stuff to get going.\u201d And maybe $125,000 for the perfect name.<\/p>\n\n\n\n WeWork offers companies of all sizes space solutions that help solve their biggest business challenges.<\/em><\/p>\n\n\n![\"\"](\"\/ideas\/wp-content\/uploads\/sites\/4\/2019\/06\/wework-ideas-mickey-drexler-derek-blasberg-2.jpg\")
Make sure your brand has a purpose<\/strong><\/h2>\n\n\n\n
Surround yourself with people who are smarter than you (so to speak)<\/strong><\/h2>\n\n\n\n
Trust the data\u2014as well as your instincts<\/strong><\/h2>\n\n\n\n
Success sometimes comes slowly<\/strong><\/h2>\n\n\n\n