The former CEO of Gap Inc. and the current chief of J. Crew told attendees at the National Retail Federation convention that there are plenty of good merchants working in the business, according to a report on the Women's Wear Daily web site.
Mickey Drexler said the notion that the fashion industry is starved for talent is wrong. "The merchants are around - if we unearth them," he said.
Mr. Drexler called up the industry to develop talent from within and nurture creativity in a business that is now often putting fast before fashion.
Talking about his own early days in the business working at Bloomingdale's, he said, "I was a bit of a maverick. I spent most of my time dealing with customers, discovering what they like and don't like, and making a profit. I became an instant buyer. I would buy anything that looks good. I don't think the industry inspires us to allow that to happen anymore."
Mr. Drexler is also not a fan of relying too much on consumer research to make marketing and merchandising decisions. "If anyone doubts that this industry is based on innovation, they are wrong. There is no reason not to start thinking more creatively. The gut is important. Making mistakes is important. What doesn't kill you, will make you stronger."
So far it appears as though J. Crew's CEO has made few mistakes going with his gut since joining the company. The retailer has been one of the most successful merchants in recent years. This past holiday, the company posted a sales increase of 17.3 percent compared to the year before. Same-store sales were also up 8.5 percent compared to 5.4 percent in 2005.
Discussion Questions: Have merchants as they've been understood in the historical sense been taken out of the broad retailing business? Has the reliance on consumer research and fact-based decision-making helped to take the creativity out of much of what we see in the retailing business today?