Mike Jeffries’ Net Worth
Mike Jeffries is a $300 million dollar businessman from the United States. Mike Jeffries was born and reared in Los Angeles, California, and earned a bachelor’s degree in economics from Claremont McKenna College. He moved on to Columbia Business School after that. After finishing his degrees, he worked for a number of stores before founding Alcott & Andrews in the mid-1980s.
Five years later, the company went bankrupt. In the late 1980s, Limited Brands engaged him to oversee Abercrombie & Fitch. Limited bought the remaining assets when the retailer went bankrupt. Their management, on the other hand, was uninterested in operating the company itself, so Mike Jeffries was given near-total responsibility. He fully revamped the brand, and it became hugely successful. He acquired complete control of the corporation by the mid-1990s. He currently holds approximately 3% of the company’s stock. Due to incorrect comments he has made to the press, his management style, and his demanding physical criteria for staff, he has caused a significant deal of controversy over the years. In 2014, he resigned from the company.
Mike Jeffries’ Early Life And Career
Mike Jeffries was born in the state of Oklahoma in 1944, but grew up in California. After graduating from high school, Jeffries enrolled at Claremont McKenna College, where he earned a Bachelor of Arts degree in Economics. He graduated from Columbia Business School with a Master of Business Administration degree two years later and continued his studies at the London School of Economics. Around the same time, Jeffries began working at the “Abraham & Straus” store, where he met Millard S. Drexler. The “Alcott & Andrews” brand, which specialised in selling women’s items, was one of his earliest commercial initiatives. The company appeared to be promising at first, but it quickly went bankrupt. After closing the store, Jeffries moved to work for “Paul Harris” before catching the attention of Les Wexner, the CEO of “The Limited.” Jeffries’ main goal was to change the “Abercrombie & Fitch” company’s image, making it more sophisticated while yet being approachable. With Jeffries’ assistance, the company was able to open dozens of new stores and attract new customers. However, the triumph of “Abercrombie & Fitch” was eclipsed by criticism and controversy. Mike Jeffries was the company’s CEO until he stepped down in 2014.
Michael Stanton Jeffries, also known as Mike Jeffries, is a well-known American businessman. Mike Jeffries is most known to the general public as the former CEO of the popular shop “Abercrombie & Fitch.” Jeffries had made a huge contribution to the company’s style and popularity over the years. “Abercrombie & Fitch” is largely known for its apparel for young people, but it also sells men’s and women’s fragrances. Furthermore, “Abercrombie & Fitch” has authority over three of its companies, including “Gilly Hicks” undergarments, “Hollister Co.” adolescent stores, and “Abercrombie Kids” children’s stores. Despite the fact that the company has over 400 sites in the United States alone, it has unable to avoid legal challenges relating to its customer service and employment practises.
In his personal life, Mike Jeffries married Susan Marie Isabel Hansen in 1971, however the couple later divorced. Andrew Hansen Jeffries is the couple’s son. Jeffries is currently residing with his partner Matthew Smith.