Retail Refugees

As an American living in Germany, J. Crew is the store that I miss most.  There is a comfort in the conservative, yet stylish, and superior quality of the products that they sell, and each new brand partnership extends their coolness one degree further (Red Wing Shoes, Rogues Gallery, Belstaff…).  My hope is that one day J. Crew will be available in Germany (although the prices will probably become astronomical considering the currency situation at the moment).  This article provides a glimmer of hope for this…

“J. Crew is expanding its Internet business into Canada and the U.K.

But after that, the company‘s chairman and CEO Millard “Mickey” Drexler has no desire to get much bigger.

“Bigger is not better — better is always better,” Drexler explained. “It’s not a matter of what’s been, but what will be. We could get bigger, could get faster and open a couple more factory stores, but we don’t want to. There’s no race — the race is to maintain the integrity of the product.”

Drexler was part of panel presentation at the Financo annual merchandising industry chief executive event Monday at New York City’s Harmonie Club on the Upper East Side.

The retail industry is always changing, and now is not an exception, if anything, it’s moving faster, Drexler said. “When I started at Ann Taylor in 1980, August Max was our main competitor. Now, three-quarters of the companies we competed with are not around.”

He continued, “When I started a the Gap, County Seat was our number one competitor. Now, most of the people I work with have never heard of Country Seat.

“The world is always changing — in my opinion, things are changing faster than ever. The past year was a big wake-up call. It’s survival of the fittest. Most retail and fashion companies will not be around in 20 years.”

J. Crew CEO Mickey Drexler. Photo courtesy of J. Crew

(via AOL)