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.
While Steve Jobs regretted not making an iCar, Apple Inc. for years was ambivalent about the auto industry. Now it’s vying for dashboard space held by Microsoft Corp., BlackBerry Ltd. and Pandora Media Inc.
J.Crew Group Inc., the apparel retailer whose customers include U.S. First Lady Michelle Obama, is planning its first Asian store in Hong Kong targeting tourists from mainland China that totaled 28 million last year.
Four of the five highest-paid employees at Standard & Poor’s 500 companies aren’t chief executive officers. They’re Apple Inc. senior lieutenants receiving compensation packages designed to keep management intact in an increasingly competitive industry.
J. Crew Group Inc. Chief Executive Officer Mickey Drexler is already focused on next year after watching shoppers slow their spending in the last month and cutting the apparel purveyor’s 2010 profit forecast.