J. Crew Bestows Big Bonuses on Jenna Lyons, Mickey Drexler

by Lisa Marsh (Subscribe to Lisa Marsh's posts)
Posted Apr 16th 2010 at 12:30PM

J.Crew's creative director Jenna Lyons. Photo: Getty Images for IMG

A promotion and a bonus.

Jenna Lyons, J. Crew's creative director, has been promoted to executive creative director and was awarded a $325,000 bonus in recognition of both individual and company performance in fiscal 2009. This comes on top of her "one-time" $1 million bonus that she received in October 2009. It's good to be queen!

In addition, other J. Crew executives also pulled down some nice change, too. Tracy Gardner, president, was awarded $425k, chief financial officer James Scully was awarded $250k, executive vice-president Libby Wadle was awarded $200k, and the big kahuna Millard "Mickey" Drexler, the company's CEO and chairman, was awarded a whopping $2 million.

An SEC filing said the company had suspended its cash incentive plan at the beginning of its fiscal year, "in light of the then challenging economic conditions," but reinstated the program after the company outperformed its financial goals for the year.

It seems steering the company into partnerships with Fenton/Fallon, Net-a-Porter, Miriam Haskell for bridal among others were not bad moves for Lyons. Plus, it doesn't hurt that the company is a favorite fashion resource for the First Family.

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Filed under: Fashion, News, Designers & Brands, Shopping
Tags: fenton fallon, first family, jcrew, jenna lyons, michelle obama, mickey drexler, miriam haskell, net a porter

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READER COMMENTS

(10)Add A Comment

WitchInVa, 4-20-2010, 8:53AM

How nice and yet Jcrew can't afford to pay their employees working in the warehouse more than $8.00 an hour and they had to lay workers off because 2009 was a bad year.

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jenifer H., 4-20-2010, 3:50PM

Actually, J Crew made a ton of money last year. They were extremely profitable, while on the other hand Abercrombie and Fitch barely broke even by just making 95,000 profit. More to the point is that the store associates and managers don't see a dime of that profit at J Crew. Its all for the upper management of the company.
It's sad because if the creative department comes up with a horrible spring or summer line, the sales associates and managers have to sell it no matter what.
Big retail needs to start rewarding the stores that are running increases and are individually profitable for the company or they can just look forward to alot of turnover.

mike, 4-20-2010, 9:35AM

Their employees are underpaid and all they sell is imported junk. Buy American made.

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tcraw10506, 4-20-2010, 10:41AM

Yep keep it in the family with huge bonuses and salaries at the top and minimum wage for the peons that really keep the company going.

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carol, 4-20-2010, 10:49AM

Is this company taking in these big bucks to pay these people. The little people that work for them aren't making much. These people are the backbone of this company. The shareholders probably aren't making much either. I guess I don't see it. I wonder where and when then graduated from college and if really they have a degree in retail at all.

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Lisette, 4-20-2010, 12:06PM

It's lovely that these people got big salaries and bonuses---I wonder how much the people that actually WORK in their stores make, and if they got bonuses too? Likely they did not. If it weren't for Michelle Obama wearing a J. Crew outfit and mentioning their name during an interview, they'd still be sucking wind. Michelle Obama is the one who should have gotten the bonus!! She's the one responsible for helping out J. Crew, not these people!! J. Crew's stuff is overpriced crap that it made in sweatshops overseas---not in America. It certainly doesn't give Americans jobs, either, and pays pennies for labor overseas. Don't buy J. Crew---buy American products made in America by Americans!!

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MARIAH, 4-20-2010, 1:11PM

Another GOP corporation rewarding their inner circle crooks, while .
screwing/ laying off their $8.00 hour employees.

BUY AMERICAN FOLKS.

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DEE, 4-20-2010, 1:47PM

I like J Crew don't get me wrong...but those are pretty hefty "bonuses" I didn't here them say they paid the employees at the store anything and people who actually make the clothes. J Crew closed up a store that was in one of my favorite malls for about 15 or more years. My next question is...what I gotta do to be a creative director...this is crazy!!!

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Mona, 4-20-2010, 4:11PM

I worked in the warehouse in Lynchburg, Va and right after Christmas there were over 200 of us that were laid off! They are even so nice as to give you a $25 gift card for a local grocery store at Thanksgiving and Christmas and then when you get your paycheck you see that they took the $25 right out of your check!!!!! REAL NICE!!!!

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