Millard "Mickey" Drexler
J.Crew, the retail chain that's opening its first Asian stores this week, plans to expand its international push with outlets in continental Europe and will be scouting for locations in Paris. The company plans to open stores in mostly capital cities worldwide to boost brand awareness, said CEO Millard "Mickey" Drexler. The company currently has no presence in continental Europe. J.Crew has been expanding overseas and the Hong Kong stores are part of its plan to open outlets abroad this year, including one in London and about four in Canada after opening three in the U.K. in 2013.
"Sorry, I couldn't answer your call earlier. I just hung up with the CEO of J.Crew." So began an entirely unexpected conversation with my wife, Elizabeth. It had been 15 years since my wife made the decision to leave the advertising world to stay home with our children, so her CEO chat caught me entirely off guard. My wife proceeded to share that Millard "Mickey" Drexler, J.Crew's chief and famed retailer, had shocked her with his call in response to an email she sent to the company's anonymous "J.Crew 24-7" address.
Shares of J.Crew surged as high as 9 percent after rumors hit that Sears and Urban Outfitters may launch rival bids for the clothier, according to a report by Bloomberg, citing three people close to the matter.
New York-based J. Crew Group Inc. has agreed to be acquired by TPG Capital and Leonard Green & Partners for $43.50 a share—a transaction valued at about $3 billion—giving the buyout firms the New York-based retailer’s namesake and Madewell brands, according to Bloomberg.com. TPG, a former owner of the retailer, and Leonard Green will work with Millard "Mickey" Drexler, J. Crew's CEO, according to a statement. Drexler may be looking to go private as J. Crew adapts to changing consumers’ tastes and deals with inventory that isn’t selling well, said Nathan Brown, an analyst at Waddell & Reed Financial