Mike Jeffries Net Worth is$150 Million
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Mike Jeffries net worth: Mike Jeffries is an American businessman who has a net worth of $150 million dollars. Mike Jeffries was raised in Los Angeles, California and graduated from Claremont McKenna College with a degree in Economics. He then went on to attend Columbia Business School. After completing his degrees, he worked for various retailers, before launching his own company in the mid-80s, called Alcott & Andrews. The company went bankrupt five years later. He was hired by Limited Brands to run Abercrombie & Fitch in the late 80s. The retailer had gone bankrupt and Limited purchased it. However, their management was not particularly interested in running the company themselves, and gave Mike Jeffries almost complete control. He completely retooled the brand, and it became immensely popular. By the mid-90s, he had total control of the company and now owns nearly 3% of it. Over the years, he has sparked a great deal of controversy due to inappropriate comments he has made to the press, his management style, and his stringent physical requirements for employees.
Michael Stanton "Mike" Jeffries (born July 15, 1944) is the chairman and chief executive officer of Abercrombie & Fitch Co.
Michael Stanton Jeffries was born in 1944, the son of Shirley and Donald R. Jeffries (1918-1985). He grew up in Los Angeles, California where his father owned Party Time, a chain of party supply stores. By the age of 12 his father was allowing him to choose the merchandise for the stores' toy departments. After high school, Jeffries attended Claremont Men's College (now Claremont McKenna College) where he graduated in 1966 with a BA in Economics. He then received an MBA from Columbia Business School in 1968 and also studied at the London School of Economics. That same year Jeffries joined the management training program at Abraham & Straus, a now-defunct New York department store. During this time Jeffries worked along with Allen Questrom (of J.C. Penney) and Millard S. Drexler (the previous CEO of Gap Inc., who now works at J. Crew).
In 1984, Jeffries founded Alcott & Andrews, a brand targeted at career women. The brand was initially successful, although in 1989 it fell into bankruptcy due to overexpansion, and closed. Afterward, Jeffries took a position at Paul Harris, a Midwest clothing chain.
Jeffries was hired by Leslie Wexner (CEO of Limited Brands, then named The Limited) to invigorate Abercrombie & Fitch. The company, founded in 1892, had been purchased by Limited Brands in 1988 after bankruptcy. Jeffries is considered to have been the main creator of the new look for the company, saying that he wanted A&F to "sizzle with sex".
It was rebuilt as an upscale apparel retailer for the collegiate, and by the mid 1990s, Abercrombie & Fitch had opened dozens of new stores. By 1996, Limited Brands was no longer heavily involved with the company, and eventually left it under the management of Jeffries.
During this time, A&F has offended groups as diverse as the feminist movement and the American Decency Association, and has attrac

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Mike Jeffries Latest News

Abercrombie's CEO Mike Jeffries steps down

Abercrombie & Fitch’s CEO Mike Jeffries, who steered the teen retailer since 1992 and at times generated headlines for his controversial statements, has retired from his position effective immediately ...
Posted: December 9, 2014, 6:12 am

Why Is Mike Jeffries Still the CEO of Abercrombie & Fitch?

The teenage-marketed clothing retail company has renewed its contract with the controversial executive, causing its stock price to drop. With the company's stock price having plummeted 26% in the last ...
Posted: December 30, 2013, 2:59 am

House of the Week: Mike Jeffries’ Sutton Square Townhouse

A Manhattan townhouse that beauty maven Elizabeth Arden once called home and is now owned by former Abercrombie & Fitch chief executive officer and chairman Mike Jeffries is back on the market for $16 ...
Posted: August 27, 2017, 6:01 am
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