Former J.Crew CEO approached Amazon about acquisition


J. Crew
J.Crew has struggled in
latest years.

AP

  • The former CEO of J.Crew, Mickey Drexler, advised Andrew
    Ross Sorkin on the New York Times’ DealBook convention that he
    approached Amazon a couple of potential acquisition. 
  • The deal didn’t undergo, clearly.
  • Drexler additionally stated that the corporate was near a deal
    with Uniqlo.

 

Mickey Drexler has a couple of regrets in his time of enterprise. One of
them, as he advised Andrew Ross Sorkin on the New York Times’
Dealbook convention on Thursday, is that he by no means offered J.Crew
when he had the chance.

Drexler, the present chairman and former CEO of J.Crew, advised
Sorkin that he approached
Amazon
about buying the corporate earlier than he stepped down
earlier this yr. The deal didn’t undergo, and J.Crew has
continued by itself.

He advised Sorkin that Amazon “should have” purchased J.Crew, nevertheless,
because it would have “acquired a machine of fashion and style in
style.”

“We’re content, in a sense,” Drexler stated.

He added that Target and Walmart, which
bought menswear retailer Bonobos
earlier this yr, additionally
might have bought the model.

Though the deal by no means occurred, Drexler additionally stated that he would
not enter an settlement to promote J.Crew’s merchandise on Amazon. He
stated the e-commerce large would “own” the client in that case,
and it might probably take the best-selling objects to show into
Amazon private-label items.

J.Crew was near a take care of Uniqlo in 2014, which additionally fell
by after J.Crew rejected a value that Drexler described as
“fair.”


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