SQUAWK BOX WITH MICKEY DREXLER AND STEVE WYNN WAS BRILLIANT TODAY | OUT LOUD

Our very own Irma Zandl* weighs in on topical issues in her column Out Loud with Irma Zandl.

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Amazing and inspiring interviews with both Mickey Drexler from J. Crew (who also serves on the Apple Board) and Steve Wynn, casino developer in Las Vegas and Macau.

Highlights of their interviews:

Mickey Drexler:

• Importance of having the right product and of having differentiating product
• Creativity is as essential as being a good business person
• Always respect the customer (and they do, I can personally vouch for that – the most amazing customer service ever!)
• Since the recession hit, complete mind change in how people view their spending
• It’s not complicated: quality product and fabrics, being fashion-right, having a design/creative team that sees the future and provides a constant flow of newness to the customer to generate excitement
• Never want to compete on price (but recognize that price is an integral part of the equation)
• Always remember what you are famous for and give an improved version of that to the customer i.e. the J. Crew look
• What he’s learned from Steve Jobs in serving on the Apple Board:
• The Apple Mantra:
• Keep It Simple:  Great Design, A Better Product, Extraordinary Environment to present Apple-ness (stores)

Steve Wynn:

• Keep it simple
• The perfect case study for business success is The Three Little Pigs
• Everything you need to know to succeed in business you can learn from The Three Little Pigs:
1. get there early
2. get the advantage/ get there ahead of the wolves
3. build a house of bricks instead of straw because straw is less enduring
• The house of bricks is not literally a house of bricks but an idea with substance
• Having the right idea is always first and foremost
• The kind of emotion your business generates with customers is important
• It’s all about how you make people feel, they want to feel like part of your family
• You want your employees to feel like part of the family too so that they can in turn make the customers feel that same warm and welcoming emotion

THESE TWO MEN ARE GENIUSES – I FEEL SO FORTUNATE TO HAVE CAUGHT THESE INTERVIEWS THIS AM

Thank you Becky for a wonderful morning of interviews.

*Widely acknowledged as one of America’s foremost experts on consumer behavior and trend forecasting, Irma’s insights are eagerly sought after by clients, marketers, media and friends. A true pioneer, Irma moved to Manhattan’s Lower East Side over 20 years ago and set up The Zandl Group in SoHo. Continuing on her trajectory of forward-thinking real estate moves, she personally relocated to a fabulous loft in Long Island City, Queens, while moving the office to up-and-coming creative enclave Bushwick, Brooklyn a year ago. Her observations of consumers have proven to be well-rounded, grounded in years of research and always directional and actionable. Her keen instinct extends beyond marketing and strategic insights and across many categories from art, style and design to entertainment and nightlife to restaurants and food.