Michelle Obama’s Fashion King
The man whom America calls “the merchant prince” just became king of a retail empire. Mickey Drexler, who turned Gap into the epitome of Nineties casual and in the process made himself one of the tastemasters of American popular fashion, is fronting a $3bn takeover bid for J Crew, the fashion chain he has been running since 2003, and which broke through to the big time when it dressed the First Lady, Michelle Obama, for her husband’s inauguration last year. Drexler stands to make $165 million from the sale.
