J.Crew's Mickey Drexler Makes The List!

"Thanks!" to Matthew who was kind enough to let us know some exciting news- that Mickey Drexler made it to the top of "DNR’s rankings of the 100 most powerful people in men’s fashion and retail". (Click here to see the entire listing from DNR.)

The Power 100
DNR
Oct. 27, 2008

7. Mickey Drexler
Men’s wear is on the mind for the merchant prince this year. Mickey Drexler, CEO of J.Crew Group, unveiled his first stand-alone men’s store in August in the site of the former Liquor Store Bar in Tribeca. The 925-square-foot jewelbox at 235 West Broadway has set a new standard with its unique merchandising techniques. Neckties tucked into tumblers, folded cashmere sweaters nestled on the bar and many of the original touches, including the lights, fireplace and historic neon sign on the exterior, all serve to showcase the curated assortment of men’s wear J.Crew chose exclusively for this location.

Another men’s-only store is set to debut at the Garden State Plaza mall in Paramus, N.J., on Nov. 14. This will offer more-upscale merchandise than the typical mall store but will not replicate the Liquor Store.

This focus on men’s stores is viewed as the company’s “opportunity to reposition, reinvent our men’s business and do something that we don’t see being done by other retailers in our industry,” Drexler said in September during a second-quarter conference call. The company also made a change in its top men’s merchant last week, naming Frank Muytjens vice-president of men’s design, succeeding Todd Snyder, who is leaving to launch his own men’s collection.

Although the Liquor Store men’s shop is doing well, J.Crew too has felt the results of the consumer pullback in spending. In Q2 it reported profits fell 12.2 percent on a 10.4 percent gain in sales. But the $1.4 billion company is remaining true to its mission, which is to offer high-quality product at a reasonable price—product that isn’t found in every store in every mall.

“We’re trying to be world curators and editors,” Drexler said earlier this year. “The more ubiquitous something becomes in America, the less special it becomes.” Last year’s rank: 15. Power prediction: J.Crew sets additional locations for men’s-only stores.

What are your thoughts on Mickey's addition to the list (and jumping from 15th place to 7th)? Do you agree or disagree with J.Crew's mission (as stated above)? What do you think J.Crew should do next?