There is no proof that he was born on July 15, 1944, but Michael Stanton Jeffries is an American businessman. He helped Abercrombie & Fitch get back on its feet again. He was CEO of the company until 2014 when he left. A company called The Limited hired Jeffries in 1992 to help Abercrombie and Fitch get back on its feet.
Leslie Wexner was the CEO of LBrands at the time. This is how it worked: Limited Brands bought the company in 1988 after it went bankrupt. People think that Jeffries came up with the idea for the new look of the company. He is thought to be the person who did this.
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Mike Jeffries’s Early Life
Jeffries was born on July 15, 1944, the son of Donald R. Jeffries and his wife, Mrs. Jeffries. A third-party source is required] He was born in Oklahoma, but he grew up in Los Angeles, California, where his father owned Party Time, a chain of party stores. [A third-party source is required.]
After high school, Jeffries went to Claremont Men’s College (now Claremont McKenna College), where he got a BA in Economics in 1966 and worked for a while. In 1968, he got an MBA from Columbia Business School. He also went to the London School of Economics.
He started Alcott & Andrews, a clothing line for women who go to work, back in 1984. The brand did well at first. When it tried to grow too quickly in 1989, it went broke and closed down. In the Midwest, Paul Harris is a clothing store that sells clothes. Jeffries got a job there.
When @nflnetwork shows vintage @chiefs featuring @trentgreen10, bedtime can wait. Those were fun years TG! pic.twitter.com/2QLMtgWQnR
— Mike Jeffries (@Mike_Jeffries) April 7, 2022
Mike Jeffries’s Personal Information
It was on April 3, 1971. Jeffries married Susan Marie Isabel Hansen on that day. She was the daughter of Charles Henry Hansen, who founded Charles Hansen Music Publishing. [A third-party source is required] They have a single child.
When Jeffries broke up with his wife in 2013, it was said that he was living with his partner, Matthew Smith, and three dogs.[We need to check this] A limited liability company in Ohio, the Jeffries Family Office, is run by Smith. It “advocates for the personal interests of Abercrombie’s CEO.”
Smith also looked over internal Abercrombie & Fitch documents and talked to experts about real estate issues. His involvement with Abercrombie & Fitch was seen by some as an example of bad corporate governance because he didn’t have a job at the company. Smith played a role in Jeffries being fired as CEO of Abercrombie & Fitch in 2014.
Mike Jeffries’s Net Worth
He is an American businessman who has a net worth of $300 million. Mike is best known for being CEO of Abercrombie & Fitch from 1992 to 2014. This was a time when the brand went from bankruptcy to one of the world’s most valuable retailers, then fell back down again.
Claims: Esquire says Jeffries put his Midtown Manhattan townhouse on the market in 2016. The next year, he put it back on the market for $16 million again. In 2018, the house was sold for $12.9 million. Then he went to Columbia Business School, where he learned a lot about how to run a business.
Afterward, he worked at many different stores. His own company, Alcott and Andrews, was started in the mid-80s and was called that.
Mike Jeffries’s Career
In 1968, Jeffries went to Abraham & Straus, a now-defunct department store in New York City, to learn about running a business. During this time, Jeffries worked with Allen Questrom, who worked for J.C. Penney, and Millard S. Drexler, who worked for a different company (the previous CEO of Gap Inc., who now works at J. Crew).
In 1984, Jeffries started Alcott & Andrews, a clothing line for women who work. In the beginning, the brand did well. In 1989, it went bankrupt because it tried to expand too quickly, and it closed down. After that, Jeffries took a job at Paul Harris, a clothing store in the Midwest that sells clothes.
Final Words
Jeffries had a lot of problems with Abercrombie’s human resources while he worked there, including a dispute over racist t-shirts and a hiring discrimination case that was settled for $40 million. In 2014, he said he was leaving the company.
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