DeepSummary
In this episode, Lauren Sherman interviews legendary fashion executive Mickey Drexler, the current chairman of Alex Mill. They discuss Mickey's philosophy on what makes a great merchant, his meticulous approach to analyzing trends and consumer behavior, and his attention to detail in all aspects of business from hiring to product selection.
Mickey shares insights from his storied career, including his patented 'Trendometer' tool for evaluating product popularity, his penchant for gathering clues like a detective, and his emphasis on curiosity when hiring. He stresses the importance of listening to customers, maintaining an approachable demeanor, and aiming high to satisfy discerning tastes.
The conversation covers a wide range of topics, from Mickey's breakfast routines and music preferences to his thoughts on restaurant service and pricing strategies. Throughout, he underscores the value of quality, authenticity, and creating desire in the consumer.
Key Episodes Takeaways
- Mickey Drexler's analytical, detail-oriented approach involves gathering clues like a detective and using tools like the 'Trendometer' to identify trends.
- He values curiosity, a strong work ethic, and aiming high to satisfy discerning tastes over pedigree or credentials when hiring.
- Creating desire in the consumer and focusing on quality and authenticity are paramount, rather than competing on price.
- Listening to customers, maintaining an approachable demeanor, and paying attention to all aspects of the business are crucial for success.
- Mickey's attention to detail extends to all aspects of his life, from his breakfast routines to his music preferences and thoughts on restaurant service.
- His philosophy emphasizes constantly learning, improving, and seeking out diverse perspectives to inform decision-making.
- Merchandising is both an art and a science, requiring a combination of data analysis and an innate sense of what will appeal to consumers.
- Authenticity, storytelling, and creating a compelling brand narrative are key to building a successful retail business.
Top Episodes Quotes
- “So yesterday was a forest hills. He said, what neighborhood? There? I said, fancy or not, and was a tennis stick. That's what I do. And then I'll say, oh, from the manor. Born when they play tennis from four years old on, and they ski and they go to the. So that's okay from the manor. But I want from the manor and from not the manor, to work hard, not have the answers, all the answers. Be curious.“ by Mickey Drexler
- “Well, any of the selling, they said, we sold 50 out of 150 in three or four months. Then I say, tell me my color. What sold the first week? Why? Because there's a million reasons why it didn't sell. A wrong color or wrong two colors. If it's the wrong three, I don't have an argument.“ by Mickey Drexler
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Episode Information
Fashion People
Audacy | Puck
5/31/24
In a candid and mellifluous conversation, the legendary fashion executive and Alex Mill chairman shares his secrets of the trade, explains what he looks for in a restaurant, reveals his patented trend-o-meter, discusses his theories of taste, offers reflections on his journeys, and so much more!
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