Mike Jeffries (CEO)
From Wikipedia, the free encyclopedia
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Photo used in Salon.com interview |
- This is for the Chairman & CEO of Abercrombie & Fitch. For the soccer coach, see Mike Jeffries (soccer).
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| Michael S. Jeffries | |
| Born | 1945, 62 years old |
| Affiliation | Chairman and Chief Executive Officer |
| Years Active | 1992 to present |
| Present Influence | Creator of the images and aspects of all brands. |
| Previous Profession | Business administrator |
Michael S. Jeffries (born 1945), preferably called Mike Jeffries, is the Chairman and Chief Executive Officer of the lifestyle brand and company, Abercrombie & Fitch Co. He has been called business intelligent and quite quirky. Mike Jeffries is considered to have brought the company from its ailing years to its now iconic American status.
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[edit] Biography
[edit] Early life
Michael S. Jeffries was born in 1945 (a baby boomer after World War II). He grew up in Los Angeles, California where his father owned a chain of party supply stores. When he was around five, Jeffries confesses to have begun having an obsession for building brands. Jeffries would often take to designing and organizing his father's stores, and would even crave for new stores – to expand and get bigger. By the age of 12 in 1957, his father allowed him to choose the merchandise for the stores' toy departments. While a high-schooler in the early 1960s, Jeffries wore Levi's jeans and proved not so athletic to his father's tastes – he failed to join the basketball team. After high school, Jeffries attended Claremont McKenna College and received an MBA from Columbia Business School. In 1968, Jeffries joined the management training program at Abraham & Strauss, a now-defunct New York department store. During this time Jeffries worked along with Allen Questrom (J.C. Penney) and Millard S. Drexler (previous CEO of Gap Inc., now works at J. Crew).[1]
In 1980, Mike Jeffries founded Alcott & Andrews, a brand targeted towards career women. The brand was initially successful though in 1983, it fell into bankruptcy due to over-expansion, and closed. Afterwards, Jeffries took a high position at Paul Harris, a Midwest women's chain.
[edit] Abercrombie & Fitch Co.
- Further information: Abercrombie & Fitch
In 1992, Jeffries was hired by Leslie Wexner (CEO of Limited Brands, now named The Limited) to invigorate Abercrombie & Fitch. The company, founded in 1892, was purchased by Limited Brands in 1988 after suffering from bankruptcy. Jeffries is considered to have been the sole person to create the new look for the company. He wanted A&F to "sizzle with sex" and carefully rebuilt it as an upscale apparel retailer for the collegiate.[2] Abercrombie & Fitch opened doors in the early 1990s with its "chain store" concept. Jeffries is said to have introduced a new brand unlike anything ever with price points unheard of in the teen apparel industry. His new concept of A&F became successful and by the mid-1990s, there were dozens of Abercrombie & Fitch stores. By 1996, Limited Brands began to slowly fade from the company and left it under management of Jeffries.
Since then, Mike Jeffries has always had complete control over every aspect of the company. From clothing designs to the positions of fixtures instore, he is always the person behind the ideas. Jeffries likes to place emphasis on the beautiful, muscular male form. He originally chose Bruce Weber as photographer for the brand, but the company could not afford him around its opening. Soon afterwards, Weber truly joined as photographer and began to work with Jeffries on photography for A&F – Jeffries constantly interviewing models. After the Terrorist attacks of September 11, Jeffries refused to lower price points in contrast to other retailers (A&F suffered economically because of this).[citation needed]
Today, Jeffries is Chairman and CEO of a multi-billion dollar company. For 2004, it is known that he made approximately $25 million USD with a "stay bonus" of $6 million USD (it dropped to $12 million after a controversy involving his "excessive compensation"). He has confessed in looking for his successor, but sees retirement far from now.[citation needed]
[edit] Appearance, attitude and beliefs
Jeffries dyes his hair blonde, works out on headquarters in the campus' gym, and wears Abercrombie & Fitch apparel with flip-flops whether cold or wet. He also wears customised clothing from Savile Row, the legendary London tailoring street and where ironically the A&F UK flagship is located. At first glance, he is described as quirky, weird, and insane, but peer workers also describe him as "unbelievably driven and brilliant". His quirks include: going through revolving doors twice, never passing employees on stairwells who in return avoid passing him (he greatly returns the courtesy), parking his Porsche every day at the same odd angle at the edge of the parking lot (keys between the seats, doors unlocked), and wearing a pair of "lucky shoes" when reading financial reports (a worn pair of Italian loafers that a secretary keeps in her desk) – he is superstitious about success.[3] Jeffries is as well "touchy-feely" with some employees, both male and female – decidedly paternal.[4] Jeffries appreciates the rugged, beautifully muscular, male form. He is known to have a picture by Herb Ritts of a torso of a toned man above his bedroom fireplace.[5]
[edit] Personal life
Little is known of Jeffries' personal life. All that is known is that he lives separately from his wife and has a grown son, Andrew Jeffries, who is currently working in hotel development.[6]
[edit] References
- ^ Denizet-Lewis, Benoit. The Man Behind Abercrombie & Fitch. Salon.com. Retrieved on 2007-12-08.
- ^ He's also the world's best fashion designer in 2005. Denizet-Lewis, Benoit. The Man Behind Abercrombie & Fitch. Salon.com. Retrieved on 2007-12-08.
- ^ Business Week
- ^ Denizet-Lewis, Benoit. The Man Behind Abercrombie & Fitch. Salon.com. Retrieved on 2007-12-08.
- ^ Denizet-Lewis, Benoit. The Man Behind Abercrombie & Fitch. Salon.com. Retrieved on 2007-12-08.
- ^ Denizet-Lewis, Benoit. The Man Behind Abercrombie & Fitch. Salon.com. Retrieved on 2007-12-08.
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