Former Gap and J.Crew CEO Mickey Drexler discusses the origin of his creative instincts and whether adversity shapes creative talent.
Assertion Not checkable as stated
Drexler: Gap prepared a contingency bankruptcy plan during early turnaround
“We were talking about, it was a year and a half, we were in Carmel, and we're sitting there, we come up with a kind of a bankruptcy plan.”
Insight
Drexler: Relying on historical sales data causes retailers to chase post-peak trends
“No rear view mirror. Most people do rear view mirror, and they say, well, we sold last year this. Sometimes it's gonna go this way a lot. So you chase what's over in post peak.”
Assertion Not checkable as stated
Drexler: Steve Jobs traded a Gap board seat for Apple board membership
“And he called me one day, and he said, I'll join the Gap Board if you join my board. Deal.”
Insight
Drexler: Truly independent corporate directors do not exist
“There's no such thing as an independent director. You know, there's a litmus test, not a relative, they don't do business with you, but they ought to have on the test not a close friend, not a college roommate, not a cousin, not whatever.”
Assertion Partly supported
Drexler advised Steve Jobs to build a prototype Apple Store warehouse
“Well, you know, I designed the first store with him, because he designed an ugly store, and I, we went in, and I told him, get a warehouse. Build a store so we can design it together.”
Opinion
Drexler: Brand collaborations are no longer unique because everyone does them
“We do collaborations, we get together, and you know, when we did it at Jake, we kind of invented it. Now everyone's, they're all collaborating with all the famous brands, so it doesn't make it unique.”