Mickey Drexler put $10 million of his own money into J. Crew Group Inc. when he took over its top job in 2003. As he overhauled the New York retailer, he personally reviewed every item of clothing sold, every model in the catalog and every new employee.
J. Crew Group Inc. agreed to be acquired by TPG Capital and Leonard Green & Partners in a transaction valued at about $3 billion, giving the buyout firms the New York-based retailer’s namesake and Madewell brands.