J.Crew's Million Dollar Thank You

by Lisa Marsh (Subscribe to Lisa Marsh's posts)
Posted Oct 30th 2009 at 9:00PM

Michelle Obama in one of her many J.Crew Cardigans. Photo: Leon Neal, WPA POOL/Getty Images

It really pays to dress the First Family.

Especially for Jenna Lyons, Creative Director of J.Crew Group Inc, who oversaw the creation of the Obama daughters' CrewCuts inaugural ensembles and that signature floral J.Crew cardigan Michelle Obama has worn on numerous occasions.

Lyons was rewarded with a one-time cash bonus of $1 million on Oct. 27, an Oct. 29 filing with the SEC reveals. However, there are strings attached.

If she were to leave the company without "good reason," as defined by her contract, before Oct. 27, 2011, she would have to return the whole bonus. If she left before Oct. 27, 2013, she'd have to return half of it.

Lyons is guiding J.Crew successfully through these economic rough times -- earlier this week, the company said it expected sales and earnings for its third fiscal quarter to be up over earlier projections.

She's also received recognition from her peers. Lyons was recently made a member of the Council of Fashion Designers of America.

It looks like she's earned that extra million!

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Filed under: Fashion, News, Designers & Brands
Tags: bonus, Cardigans, cfda, creative director, CreativeDirector, crew cuts, CrewCuts, first family, FirstFamily, j.crew, jenna lyons, JennaLyons, malia obama, MaliaObama, michelle obama, MichelleObama, sasha obama, SashaObama

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READER COMMENTS

(8)Add A Comment

jay, 11-03-2009, 3:58PM

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jbjg24m, 11-03-2009, 8:04AM

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Hope, 11-03-2009, 8:36AM

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Reply »

jesssa, 11-03-2009, 9:21AM

I wish I was getting a million dollar bonus, but since I am not, I am nto shopping at J Crew ans still shopping for bargains this holiday season.

I love being a "frugalista". I just found out that the lingerie under the Gilligan and O'Malley name at Target is actually made by Victoria Secrets...and so much cheaper!
Targer is also great for fashion and funky home stuff that looks like it cost a lot more, as well as for great everyday staples.

I shop at all my favorite stores through an online website fatcrumbs http://www.fatcrumbs.com that gives me the unpublished codes and or free shipping at about 500 stores (including Target, The Gap, Best Buy, Old Navy, Drugstore.com, etc) as well as giving me between 5 and 50% back in cash on my purchases.

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Beth, 11-03-2009, 9:25AM

Yeah..no million dollar or even thousand dollar bonus for me too. I have given up mani/pedis and enjoy the benefits of frugal fitness.

I have been enjoying the joys and benefits of frugal fitness for years. It's called walking!
Walking is the best exercise and overall toner for me. My stomach is tighter, my legs and butt are more toned and I simply feel better. It does not require a gym membership, a trainer or any equipment....totally FREE! .

I live in New York City and I get up a little early so I can walk to work. I wear Smartsole exercise insoles http://www.smartsole.com . They are anti cellulite insoles that help you tone muscles, increase circulation and cause you to burn more calories with every step. So you are getting a work out and toning your legs and butt even when just running errands.

I read about them in Prevention mag in an article on new fitness products and they are a fabulous way to help get toned for those of us with crazy schedules. They listed the code jm10 to save 10% off.

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NNN, 11-03-2009, 1:19PM

But then it was taken away because bonuses of that amount are not in the interest of the business, so says the government.

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Loretta, 11-03-2009, 3:32PM

I don't know which is better: Getting the mil bonus or having a guaranteed job til 2013. Sounds like she scored big time with this bonus. If only we all could be so fortunate. Good job, Jenna! :)

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