Everyone Is Replaceable

He's gone from clerk to CEO twice. Mark is classic proof that the American dream is alive. And well, here's your host of always in Fashion, Mark Weber.

he looked at me and said, is that right? Mark? As executive VP of this organization. I'm in the position to know that you're not. I don't know where you get off even saying it. I suggest you regroup, come back to me when you're ready to act intelligently. I remind you mark, no one's irreplaceable. Ooh, yikes, that's a threat. I learned my lesson on demands. More importantly, it taught me to think. Taught me to think about everything I said in the future. Anyway, it's so easy to second guess.

Everyone could be a Monday morning quarterback, know the right moves after the game is played. Everyone has answers once it's done. However, being out front and understand what needs to be done, that's a different question. That takes visionaries to know what's happening in the future. It takes a visionary to look around quarters. It takes very talented people to understand where is the future? Where is it going? One has to wonder at the moment, do we see

around corners, do we understand where we're going? Do we envision the unintended consequences of our actions. I've often explained the law of unintended consequences, and the way I do it is very simple. Picture yourself standing in front of a body of water, and you throw a pebble into the water, which the pebble disappears immediately, which is the decision you make the pebble, But the ripples go on and on and on, which is the outcome of you

throwing that pebble in the water. The decisions being made here and now as relates to the future are a big question mark in our lives. One thing, current events, the tariffs, the future of our country will have many unintended consequences. The key, the key is to think through the decisions we're making before you make them, and we understand what will affected by the situation. I can tell you the power, retail and luxury world is in chaos

and there's a probable now. This approach to life creates a situation where business life is always unfinished. One of the great choices in life. You never really know where you're going. There's always surprises, some good and some bad. But planning and understanding of the outcome what you decide is critical. Jack wallsh famous CEO of General Electrics, said, and I plan for the worst and I hope for the best, because whatever you plan by the nature of

the word plan is unfinished. Ah. Yes, they say everyone is replaceable. I've always wondered whether that's the truth, in spite of the norm understanding, the collective wisdom. Sure is everyone replaceable? Sure? At the moment again current events, the president stands at the precipice to be the greatest president in modern times. President Trump, you looked invincible. You're unreplaceable. However, you're blowing with the tariffs. It's an unforced errup. You

have to straighten things out with China. Please talk to China, talk to g privately. Get this behind us. You're right, you need to hear it. You're right. However, the execution is horrible. Now I'll get back on point because I don't want to talk about that anymore. There are some people I believe that are irreplaceable. I know you could argue it. It's the correct business approach. I tell you, when I was CEO or a president, I always said

everyone who's repriceable. You have to take that position. It's the only logical place to make your stand. Anything else. You sound a full But when you lose a good person, when you lose someone who's special, when you lose someone who has a spe skill set. When you lose someone who makes a contribution, a difference, a light goes out, a star goes doc. Something is missing. Yes, you'll find someone else. You'll find someone to do the job differently,

and yes they may do it well. You find a person in life who might suppress the person that left. But you can't take the idea that everyone is replaceable. It's just not true, even though it's the common law, the unspoken word, those things you need to say in front of your board or other management people. Everyone is replaceable, and it's true, but it doesn't mean that the new person is of equal value. Tonight, I'm going to evaluate

irreplaceable versus replaceable. I can talk about the beginning with the LVMH in mind when I started my role there, or the men's industry position at COVID, or the reaction to Trump on the Campan Trail, but it comes down to the idea of replace versus Irraoble I have something to say now, I, for one, have developed a purchasing sickness over time. I used to be very careful of every purchase I bought. I remember one day I was working at a company. I was working with a team

of people. It was casual Friday, and I was wearing khakis, black swede loafers, white T shirt, black sweater, and I commented to myself, you know, I like the way looking funny. I go into a design meeting and one of the women says that look is great for you. I said, well, thank you. I bought the sweater at the Gap. I really liked it. I'm concerned that I'll get it spoiled. I'll get something on it. And she looked at me. She said, you only have one? I said yeah. She said, Mark,

you can afford more than one. Why don't you go back to the Gap and buy more of them? I said why, she's just for the reason. You said. If you spoil it, what are you going to do? Got me thinking, and sure enough I went back to the Gap and I had five of black sweaters in my sides. I bought all five, and from there, everything I purchased that I liked I bought more than one. I recently saw a pair of Levi collection I forgot what they

were called, white cargo pants five pair, five pair. Ralph Lauren had a beautiful cardigan sweater and black and I tell you it's extremely expensive. In the Purple collection, I bought two in black, one in khaki color. I bought everything they had in crew NECKX two of each gap jeans jacket. I now have five. They have a great spring one for summer. Here Altho has white shoes. Bought two pair. I bought two white off white sport coats from Ralph Purple label, including a third one which is

a white dinner jacket. I bought Ralph black double breasted sport coat than a navy double breasted sport coat. Even got crazy last week and bought it off white double breasted sports coat. I don't want to be without. And if you get me started on black cargo pants. For the last two years, I have more black cargo pants than most stores have. And white, forget it. If I told you the number of white pants I have, you wouldn't believe it. And why am I saying this? And

why am I doing this? Because my wife one day said to me, I can't believe they discontinued the makeup I buy, and she was crazed. She went online started to try and find it everywhere, eBay, here, there, and she was not She said, you can't afford to lose products now from evermore, I'll always buy more than one and that's what I did. So you can say that products are irreplaceable. You get comfortable with something, you like something, you stay with it. You don't want it to go out,

you don't want it to be discontinued. I have underwear styles that I had from Ralph or from Calvin Klein that were discontinued. I was really lost and upset about it. So if products can be irreplaceable, are people irreplaceable? When we say that everyone is. I have a great story to tell you. It has to do with COVID has to do with dress shirts. I'd love to talk about ties, but there and I don't know, and if you're seeable future with the ties will come back. Although there at

certain times I wear them. I fear it completes the outfit and I like the way it looks. But COVID dress shirts, the dress shirt business disappeared completely during COVID. I remember right before or right after COVID, I went into Macy's to look for dress shirts because I'm always curious. I spent time in the dress shirt business. It was

a very important part of my background. Nothing on the floor zero heretofore, if you would go on Macy's thirty fourth Street, half the main floor and men's were, maybe more than a half was dress shirts from every brand, every color, every design you can manage, because it was a staple of men's dressing. Dress shirts are worn with ties, or they're worn casually. They're a great, great compliment to casual dressings or for fine casual dressings, or even pulled

out of your pants and war on tuck. Dress shirts were always a major, major staple, and now all of a sudden, because of COVID, they disappeared. The retail community decided that because of COVID, because of the nature of the business, they didn't need dress shirts on the floor anymore, and they had a few at most in Macy's going forward,

but they forgot how I replaceable dress shirts were. You go into a store right now, and half the floor at Macy's again in the first floor is dress shirts because they are such an important part of the business. Which also gets me to believe and think about Donald Trump and dress shirts. I think I've told you that the President and I met before he was president. He wanted to venture into the shirt business to suit business,

the tie business before he became president. A big part of Donald Trump's net worth is licensing a lot of what you see. A lot of the golf courses he owns, they're licensing his name that not necessarily Trump owned golf course. Same thing for buildings. While I'm sure certain buildings he owns outright he developed them, there are buildings that are made that pay him a license for the use of

the name. His job in those circumstances to make sure they look like Trump buildings, behave like Trump build a service, but they not necessarily so. Donald Trump came to me, his people came to me and asked us to do dress shirts. I've talked about this with the largest shirt company in the world. He wanted to be with us. I said, we don't need it. Next day, I know Donald and his entourage are in my offices convincing me to do dress shirts. Don't need him Donald. The more

I said no, the more he pushed. The only thing I'll tell you about it if you read my book Always in Fashion, chapter seventeen, Negotiating with the Master Donald Trump was very convincing, and I could tell you Donald Trump that I know the Donald Trump that I knew honored every obligation that he had. Now after I left Van using the Donald Trump issiness for nine years in making, I had left, and I remember reading one day Donald Trump had become president. I think he was a candidate.

He was a candidate at the time. Not long after, he came down the stairway and he said at that time, I want to eliminate illegal immigration. Everyone already went crazy. You can't eliminate immigration where a country of immigrants, blah blah blah. They didn't listen that he said illegal immigration. But furthermore, what he said was these people coming in a rapist, murderers, They're the worst of the worst. We don't want them. The entire Latino community, the entire Hispanic community, erupted.

He's a racist, he's a racist. He's this, he's that, he's this and that, and Macy's after nine years of successful relationship with Donald Trump, Apparell discontinued it immediately. You couldn't give away the shirt, you couldn't sell any more product. The business was over. It was probably one of the first interruptions in his income that he's had to live

with since becoming a candidate. And then President twice. It was really sad because nobody anticipated that, because in the end it was true, there were a lot of problems with the immigrants, illegal immigrants coming into this country. I don't think he made it as a racist comment. I know he didn't. Well, it turned out there are a lot of problems in that migration here. But I'll keep going. I spent, as you know, many years at the Venues and Shirt company developing shirts. It was a major love

of my life. It was an exciting love of my life. When you consider shirts, how important they are to a men's wardrobe, how much volume sales are done in shirts, how they're of interest to men and women, how they correctly frame a man's face, make him look better, make him look elegant, make them look drushy, just look right. I always thought a great deal about it. I always

appreciate it, so it shouldn't come as a surprise. When I joined LVMH as CEO of the LVH Group in the United States, I was given the responsibility for the oversight of the Thomas Pink luxury shirt business that exists that around the world. Thomas Pink was in many countries, many real estate stores, many many shops everywhere, impressive as can be, twenty one stores in the Greater Area in London in the UK, and I used to go back and forth so many times managing or overseeing a luxury

shirt business. I'll never forget the first meeting I had when I met the CEO of Thomas Pink. I flew to London. I met with the president of LVMH who introduced me to the then CEO of Thomas Pink. His name was Jonathan Heilbron, who had become over time a great ally and I suppose a business friend that I really admired and trusted. Here he is the reigning CEO of a shirt company getting a new boss out of nowhere,

Mark Webber from the United States. That in itself is a problem, but I remember there was a certain degree of respect on his side because my reputation preceded me. But it was an awkward meeting. I was the second in command there, so we focused on the president of LVM eates citing the rules, explaining why I became the guy I became, why I was now in charge. He was reporting to me, and it went as best to

go an awkward situation. The second meeting The next day I came alone to meet with Jonathan, and in that meeting I told him how impressed I was with his background. I understood his resume. He was the chief financial officer Thomaspink before he became the CEO. He had spent many years from the onset of the company. He understood retail, he understood the finances, he started to learn the operations of the company. By the time I was there had a staff of people from all over, very diverse group

of people. The interesting thing I noted right away on a cultural side that there are so many different dialects of English spoken in the UK. I guess from the Scottish side to the best neighborhoods, the lords. I did so many fun things when I was UK working with them.

But on the second day, at the end of meeting all the people, at the end of me telling them that I view my management role as wanting to have the best people that I could possibly have working with that I want to be in a position to struggle to be valu added, so the better you are, the more I appreciate you, and I'll find a way to

give input, make my contribution. Felt if in fact I could now, between you and I, I would always find a way to make myself valuable to the people I work with, but in the spirit of anyone replaceable or replaced so that the story gets interesting. Because the next time I met with Jonathan privately and I asked him what he thought about yesterday, I said, listen, I have to report to someone, and I'm fine reporting to you. I think it's a great opportunity for a collaboration. I know who

you are, I know your background. I'm excited to be involved with you, and I'm looking forward to seeing what we can do together. I looked at him and I said, I can't tell you how happy I am that you're saying to me, Because Jonathan, I as I said, I like what you represent. You live here, You're the day to day guy. I can never spend the kind of time that you do, so we have to forge your

way to do business. And what I'd like to suggest to you is you and I have an agreement that I could say anything I want to you any way I want, and you won't take it personally. That I could be completely honest. If you show me something that's great, I'll tell you I think it's great. If you show me something that isn't I'll tell you. If you give me a concept, I'm either excited about it or not excited about it. But I can help. We'll find a way. And he in turn said, I promise I could do that.

But I said, the same goes for you. I want you to feel comfortable telling me whatever it is you can, whatever things bother you. Let's have that kind of business relationship. Let's call it a friendship. Let's agree that together we'll make it work no matter what. And we did after the course of call it a years. Him and I worked so well together in Thomas Pink. I loved the brand, I loved going there. I'd never been involved in true luxury goods. Yes, I was involved in designer goods at PVH.

We had Calvin Klein, we had Donna Karen, we had DKY, but never Thomas Pink. These were dresser. It's the least expensive one at the time, going back to twenty fifteen or one hundred and seventy five dollars apiece, where most of them were in the two hundred to two hundred and fifty dollars area. But we forged this relationship in this working relationship. Now, as I studied the business, those of you who were familiar with Thomas Pink, you would

have noticed that they had big stores. The biggest store in New York was on fifty third Street and Madison Avenue, actually on Madison at fifty third. They had stores on Wall Street, they had stores in sixth Avenue, had stores all around the city. It was a great place to work. But the store on Madison was huge. And when I got into it, I realized that they had women's product, and that had a twenty five percent of the store averted to women's wear. Now, success is a funny thing.

Sometimes a little success can cause a lot of problems. In the case of Thomas Pink, it did. And I want to talk to you about that because when people thought of Thomas Pink, the question is did they think of women's shirts. I want you to hold that and put it aside. I like doing this. I like being in a position of coming back to things when I find them interesting. I'm working at van Usen. I am now in addition to the president of the company, I'm

the head of marketing of the company. And when it came to van Usen, we always struggled with the advertising. We had some great advertising over the years. One of my favorites had a guy on two pages in a magazine. One shirt is thress, shirt and tie, completely made up, close personal, beautiful look, and the next page he's pretty much the shirt is being taken off. His back is showing he's taking his shirt and tie off, and it said, what a changing America is changing into van use it cool,

cool concept, but here we are. Van Usen at the time had outlet stores. Fifty percent of the outlet stores with women's product. We was selling men's belts, men's ties, men's underwear, men's sports, and men's dress shirt, men's pants, men's outerwear, men's everything. And I was sitting in the boardroom one day. I was on the board and I was waiting for the entire board to come in for our presentation, and I was with a woman. May she rest in peace. Her name was Estella Els. She was

a marketing girl at the time. She was in the company shoes in her eighties. She was a contributor. She was one of my favorites. She liked me, I liked her. I liked talking marketing, and I remember sitting there talking to her about Vanyus and I said, I'm struggling. I'm doing this great campaign. Let me show you the pictures. I haven't put them out yet for the magazines or on television. I'm struggling with what is van Usen. She closed her eyes, smiled and looked at me and she said,

Mark van Usen is shirts for men. Said that's it, and she laughed, this is what else you need? I said, well, we make all these other products. She said, forget it. Van Usen is a shirt company. You're offering value added by giving them those other products, but by driving home shirts for men, you're making a powerful statement on behalf of the brand. And I remember thinking that coming back to Thomas pink that Women's in the store because of it.

We had women's designers, we had people sourcing women's product, we had more space in the store, we had engineers dealing with women's We had all these things. When Thomas Pink Win is in effect shirts for men. Ultimately speaking, that caused this great difficulty on the financial side until we found a way to extrapolate ourselves for women's shirts. The point being are products are people disposable? Are they replaceable?

The bottom line. Thomas Pink doesn't exist anymore. One of the companies I know just put it as an online business. It's not the same company. It's not based on German street being, it's not using the greatest European factories that are ever developed. It's not being made in countries across the world. It is not the premier shirt brand you see on the street corners anymore. It's not on anyone's tongue. No one's looking at us, no one's looking at the press.

And I'll tell you why, because somewhere along the way, Thomas Pink lost its way. First I was gone, then Jonathan was gone. The saying is is everyone is replaceable. However there's no more Thomas Pink, and tomorrow, of course is everyone's replacements. So the saying goes the truth is great is often not replaceable. You left with massive companies, they'll tell you everyone is replaceable. I could tell you I worked at this company. No one remembers me, no

one even knows my name. That's life. I also know that I left a vacuum when I left, and maybe, just maybe I was irreplaceable. Back in a.

the Donna Karen collection. And Donna invented DK NY Donna Aaron, New York. It's an offshoot of the Donna Karen collection. The same concept a lifestyle brand. Now we talk about lifestyle brands, what does that really mean? Simply what they say, the brands that follow you throughout your lifestyle. You get up in the morning, you start to get dressed. Donna Karen dcan why as intimate apparel, as hosiery, as all those products. You're getting dressed for work. You get accessorized shoes, handbags,

and it takes you through the day. The remarkable thing about DK and Y clothes for work, they work into the evening. The dresses, the suits, the pants, the sweaters, the blouses, extraordinary clothes at affordable prices that go from day in tonight. Part of your lifestyle is active. You have weekends, you have events, you participate in sports. Donna Karen's casual clothes did that under the DK and Y label, a vast array of casual sportswear that make women look

great as they navigate their busy lives. Whether you going to soccer games for your children, or whether you're going out to the movies, whatever you want to do, dcn Y jeans, dcaan Hy sportswear is there for you. That's what a lifestyle I need to mention DKY activewear, which is extraordinary, the leggings, the sports bras, the sweats. You can wear DKY active wear certainly in the gym, certainly when you're working out at home, and certainly if you

want on the street, because it's that well done. The quality of DKY is nothing short of exceptional. And why shouldn't it be because it was born from the idea of luxury made affordable for women of America. DK and Why a true lifestyle brand that takes you from day and tonight, from the week into the weekend. DCN Why you can find DCNY and Macy's dky dot com. As one of the world's most celebrated fashion designers, Carl Lagafeld was renowned for his aspirational and cutting edge approach to style.

His unique vision of Parisian shit comes to America through car Lagofeld Paris. He has women's collections, men's collections, ready to wear, excess shoes and bags. The fashion house Carlagofild also offers a range of watches I wear in premium fragrances. You can explore the Carlagophil collection at carlagofilpowers dot com. But it's more than that. I, for one, love to shop. I love going around and seeing what's happening and what catches my attention, what would make me feel good to

wear now. I don't wear the women's wear obviously, but I can appreciate it and they look amazing. If you want to look right, you want to have clothes that fits you well. You want to look like you're wearing something that's very expensive, that's exclusive for you and yours. You can find it at very affordable prices at Macy's Orcarlagofel dot com Paris. The women's ready to wear fashion

is extraordinary, as well as the handbags and the shoes. I, for one, wear men's clothes unlike my appreciation of women's clothes. I'm a modern guy. I want to look current. I want to look the way I want to feel. I go out at night, I'm in black and carlagof is my buddy. Calls are great. They fit great, and they have little tweaks and touches, whether it's a stripe on the sleeve or button at the neck or on the shoulder.

There's a lot of details that go into Carlagafel because he's always been he always had been one of the world's great designers, and this legacy and goes on and on. I can't speak enough about it except to say to you, you want to feel good about yourself. You want to know that you're dressing properly. You want to clothes that fits you well. Carl Lagafeld Paris at Macy's Orcarl Lagafel dot.

Steve's Jobs were still alive? All that thought? Tim Cook number two to Steve's Jobs operational guy, financial guy, not a visionary but extraordinary. He's led Apple since Steve Jobs left to the most successful tech company in the world, in fact, the first trillion dollar valuated company. Now he might be irreplaceable, but think about Jobs. He was replaced, So I guess Steve Jobs was easily replaced. However, it makes me think what about the invention Steve's Jobs would

have created? What had he created if he didn't pass away, and didn't he move on with the products he brought us that we didn't know we needed ever been created? What is out there that was in his mind that didn't come through with those ideas he would have had ever be in our hands, our homes, in our cars, or linked to our brains. We'll never know. I believe Steve Jobs was irreplaceable in spite of Tim Cook, who gets my award for the greatest CEO I've ever seen

in person. I only a stock. I'm thrilled. What a great company. And then let's get closer to our industry. Let's talk about fashion, retail and luxury. There's a guy named Mickey Drexler. Most of you, none of you, probably all of you, ever heard of him. And he is and was a genius in retail, fashion and luxury. The only thing I don't like about is and I try to get him to come on the show and he didn't want to. But he's still a genius. And a

little background information. There was a Fisher family, I think Donald Fisher was his name, the patriarch of a company investor who began and created a company we all know, but Mickey Drexler made that company. There was this hippie jeans company started in southern California, rolling out stores. They were somewhat successful. They were limited in scope, they were targeted probably at a small segment of the population until

Mickey Drexel showed up and was hired. See Mickey Drexel was a merchant prince who brought you what is known today as the Gap. Yeah, his innovations in style color products marketing brought gap to the peak and retail. Think Uniclow now. The gap that he created was the epitome of the greatest retail stores ever. Think of American Eagle Outfitters, Think of Uniclo, combined them, improved them by one hundred percent, and you have what the gap was. It was the

most amazing brand retailer that in the world. No one in fashion would begin a season without first walking into the gap for direction for their ideas. I can tell you years later after he left, I remember sitting in my favorite restaurant in Hong Kong, in the Intercontinental Hotel leijinge faudein. I think that's Mandarin rather than Cantonese, but that's okay, the Lai Jing chowd'em okay, whichever it was. I was sitting there and I was at my restaurant.

It's a steakhouse. In that hotel, it was usually called the Region Hotel, then changed the Internet Continental Beautiful, Beautiful restaurant that was on the water in that hotel, looking out at Hong Kong Bay, I had the Hong Kong Harbor. Big boats vessels would constantly be going by. It was one of my favorite spots in the world to live those if you have the air me asked the question, where would you be if you wouldn't be here, I might be sitting in that hotel, in that restaurant. Loved it.

First time I ever had GROUPA. I never had group of fish grilled group It's as thick as a steak with British mustard baked potato. I could eat that meal forever. It was their greatest place in the world. I walked in one night and there was a table with thirty people at it, all Americans sitting around this table, thirty people and at the time, you know what a trip to Hong Kong courst of an airplane, to stay at that hotel, to eat in that restaurant, to bring thirty people.

I remember sitting there and saying to myself to the waiter, I asked him, do you know what company they're from? And he says, I'll find out, thank you. I knew the waiters, of course, because I was there so often. And I said to myself at dinner, whatever company they say, if I own the stock, I'm selling it. The following

day I sold the stock in the gap. You don't send thirty people to Asia, Mickey Drexer would have done it and anyway, to make a long story short, this guy was amazing then the most amazing brand retailer then in the world. No one fels fashion would begin a season without looking at the Gap and Mickey Drex's rain.

He then does the following. There's a sleepy dying retailer positioned as a desert gear company with an army jeep in the center, and they were purchased by the Gap with Mickey Drexer putting his impurtuur on it, his a vision of what it would be, and he turned it into this sleepy company, the most successful, cool, modern men's style retail in the world at that time, and he called it Banana Republic. He took the Banana Republic, who was dying, and made it into one of the greatest

stores ever. They simply became the store for dress up and refined casual clothes. Everyone shopped them, everyone copying them, everyone bought there. He wasn't done out of nowhere. Out of his brain, he invented a store you now know as Old Navy. He put style and cool into discount retail. He changed the landscape and made low price fashionable, the first store to link the associates on earphones and tablets.

Drexler was a genius. He sat on Apple's board. Steve Jobs knew what he was, and then one day out of the blue, he got fired. Fired, if I recall correctly, they didn't think he had the persona and the wherewithal to be the CEO of a ten billion dollar company, although he had been. He just needn't do much. You just built the company. Fast forward. All these years later. Gap has never recovered from him leaving. They've had fifty CEOs. They've tried this, They've tried that Old Navy, I'm told

is struggling to exist. Banana Republic is fair at best. Although I like the way they look. I still like the way they look. I go in every time I'm in a mall, I'll shop and on a Republic. But they're not setting the world on fire. In the Gap, it's still a wannabe. They don't look as good as American Eagle Outfitters. They're basics which built them. The core color programs that built them aren't as good as Uniclo.

They're just not the Gap. By the way, after Mickey Drexel was fired, he bought Jay Crewe, the three hundred million dollar company family run, and he turned into three billion dollar company that you know today. He's no longer there. J Crewe is not at the precipice of the greatest. They still look good, look Nikki Drexler Forth. The norm gap never recovered from him, And all I could tell you is we can say everyone is replaceable, but he was irreplaceable. I'll continue to go on and make my

case is that everyone replaceable. I don't think so. I think a lot about when founders leave companies and they decide to live the American dream. Hold that thought. I used to believe and I still do that in this country, anyone could be successful. I'm not one of those guys who can tell you go out and follow your passion. I want to be a singer. I'm not good enough. I watch American idol. I can't hold a candle with

those people. If I tried to be a singer, maybe I would do the happy birthdays in the restaurants they called me over to sing with the group. I have no talent compared to those people. So following your passion is not the answer. You have to find something that you're good at what you could be great at, and follow that and hopefully, with a little luck, you'll enjoy it. Because work is work. If it's work, if you like what you're doing, you're never going to feel like you're working.

But the reality is, what is the American dream? Go out, find a job, make a success of yourself. It was I then got into understanding entrepreneurs, and I realized that entrepreneurs were truly the American dream. That from their own ideas, from their hard work, their grit, from investing their own money, they start a business and make it successful. It's incredible.

If you're an entrepreneur and came across me, whether I was interviewing you, whether I was in the corporate seat, whether I was a president, CEO, I wanted to talk about how you became an entrepreneur and whether or not you were scared, whether or not you lost money. Was it easy because to me, entrepreneurs or the American dream. But what I learned was the true American dream when it came to entrepreneurs, is buying a company and selling it,

selling it, cashing out. That's the American dream. There are exceptions. There are family held business. For one, hundred years and families continue to run. And that too, is an American dream. You start a business, you have a daughter or a son, you want to leave the business to teach him the business, Let them carry on for their children, and on and on and on. Amazing. That's another version of the entrepreneurial American dream. However, what happens when the founders leave? I

wonder whether founders are irreplaceable. Take Bernard or No, the founder of LVMH. He's just recently admitted he wants to stay on till he's eighty five years old. Changed the corporate bylaws. I forgot what they were, might have been sixty five, but he changed it. He's going to stay on, and I'm grateful I still own this stock I had when I was with the company. Thank god. Company's done great. Although the luxury world at stock is not very good

right now. There's a problem. Tariffs aren't helping, for sure, But there's a little bit of a shakeout in luxury right now. For another day to talk about. But founders. I think of these two women. I forget their names. I apologize. Two ladies had a vision on the West coast. They decided by looking around that they wanted to recreate the Los Angeles, La lifestyle for young girls and young women. And they called a brand that they developed, Juicy Couture,

and they built it to a billion dollar empire. Their advertising was extraordinary. The clothes were better than the advertising. Everyone was wearing it. It was the hottest brand in the world, a billion dollar empire, and then it was sold multiple times, first to this guy, then to that guy, then to this guy, then to that guy. My son's company currently owns it and license the brand of many people.

Juicy Coutur is still there, but it isn't what it was since the founders left, never was, never will be. They were irreplaceable. Another one Liz Claiborne talking to people. I guess if you're younger than fifty, you might have never heard of this Claiborne. I could tell you. In my day, Liz Claible was the finest company in America. Four billion dollar company created by Liz Claiborne and her husband Arthur Ortenberg. Both made their rest in peace. They

had a CEO at one point. They continued to build it another company. They were the finest sourcing arm in the world. If I was going to hire a person to source product for me at van Ues and PVH. I would go to Liz Claiborne first and see if I could recruit their people. If you were in women's design, there was no one better. Their operational skills were perfect, their approach to the business was perfect. They were in

every major store in America. I don't recall the terminology, but Liz and Author sold out company that ran for the existing CEO did a good job. I won't name him because he did me wrong. He dissed me and I don't want to talk about it. That's a story perhaps for another day. But then the company was sold again, and I can only tell you the CEO that it was sold to running it and the come company they

brought in. This guy ruined the company even further. Four billion dollar company in two thousand and six, they were admired by all that were the darling of Wall Street. They retired and they left the founders and now where they are they well the news. The last CEO that I could think about, the Winner, Real Winner, destroyed the company. Liz and Author were replaceable. I do see this season's collection at j C. Penny. J C. Penny is where

Liz Claiborne can be found. J C. Penny bought the rights to it, but obviously there's no Liz Claibord designer anymore. It's a private brand used at Liz Claiborne to raise the level of the j C. Penny business, and I think they're doing a great job. I really really like what it looks like. Now I can go on and on and wonder about new friends taking over and whether or not these companies are right. It's easy to say, you know, you can pick your family, but you can't

pick your friends. And in the world world of business, it's not family. It's making the right choices and the people you pick. There are some really great companies that you got to wonder what's happening to whether they'll even be around in any future. All Saints, I remember walking down the streets in London and Regent Street, walking by a store that blew my mind. The entire window, and

I'm talking about a huge window. Must have been fifteen feet high by thirty feet long, huge, and every square inch of that window was filled with antique sewing machines lined up one next to the other. It was remarkable. I remember walking in and seeing all the leathers, all the distress good all the lifestyle, rock and roll. I guess you would say it was very very forward, very very cool. I would suppose that John Varvados, if you look at a current company that would look like them.

They're in the same league. But All Saints was more exclusive, more expensive. I remember coming back and mentioning it to Donna Karen. She almost laughed at me, where have you been? They're the best? I think they're floundering. I look at their product, I look at the size of their offerings. All the stores are gone, at least from what I can see. The founders are no longer there. Then there are companies who lasted the test of time, who were

bringing around for over one hundred years. Burbery, what's going on with Burbery? They are tired, They're not exciting. They're not the darlings anymore. They're not the go to brand, They're not the it brand. What has happened? I could trace it to Angela Errence and Christopher Bailey. Angela Arens was one of the most talented CEOs and women executives in the history of the luxury fashion retail business. She left the company I don't remember why. I think she retired.

Christopher Bailey, our co partner who became CEO. He was the CEO and also the creative director. He made his bones as a creative director. Used to work at Calvin, grew from their amazing guy at the time. When he left, I think he got plained. I think I don't recall that he could no longer be the CEO and the creative There's probably too much for one guy to do. He probably was not a CEO. But what do I know? All I could tell you those two people were irreplaceable.

There was no replacement for Angela Aarons and Christopher Bailey. Look at Burberry and then there's Gucci. Gucci. Tom Ford brought it back to life, made it what it was. Tom Ford left Gucci started his own business. It was amazing, amazing. I'm not so sure if tom Ford is amazing right now. I don't know. Don't feel the excitement, I don't feel the energy. I know they sell a lot of product. I know it's tom Ford. They never veered from luxury, I've never I know they've never veered from the best.

But is it the same? I wonder Gucci without tom Ford did okay, But now Gucci struggling like crazy. The creative directors have come and gone. The management is wondering. They're shaking their heads another with the people that were there. Was Tom Ford replaceable? No way I can go on? You remember seeing is Sears still out there? Do you know how big Sears was in its day? Sears was

the biggest retail company in the world. Their catalog, which is an early form of the internet, selling direct, buying direct from a catalog instead of online. They had a billion dollar business back in the day before no one knew what a billion dollars was. SEUs Does it exist? Shows you what happens when management is sold to the wrong family. Luck you can pick your friends. The friends we're picking are in our friends. Not everyone is replaceable. So you could say, and I will. If I wasn't

on Rady, I'd say as an executive, everyone's replaceable. The truth is not. Everyone is back in a minute.

mack next. The choices are endless, and every one of them looks right. You could really really look the part. I believe that packaging yourself is as important does the products you package, and wearing a suit is one of those things that make men look their best. Venuesn't invented a new idea. It's called the cool flex suit. It's been engineered with stretch technology giving you the most comfortable fit and mobility. Its wrinkle resistant fabric, it's cool moisture wiki.

It makes it perfect for all occasions. As we discussed just now, this new style of looking sharp while feeling cool and comfortable is amazing, and I'm so excited that the van Using company is involved in this new technology and is embracing the whole idea of dressing up. Let's not forget van using mane It's name with dress shirts. It's only proper that the suit business follows strongly in its way. You can find van using kool Flex Men's

stretch suits at jcpenny are online at jcpenny dot com. Guys, they're great. You should go look at them. I love Polar fleece. It's lightweight, takes colors beautifully, It's comfortable, keeps you warm and even if it's warm out, it doesn't hamper you. It doesn't make you perspire. I love Polar fleas. I also love sweatshirts and sweatpants, love them, love them, love them. I'm a big fan of khaki pants and a big fan of a golf clothes. And I'm a big fan of Izid. I used to be the head

of Iszide. In fact, my company bought it and aut of bankruptcy, and the CEO of the company asked me to come in and fix it. And he said to me, mark the future of the companies in your hands. Can you do this? And I said, I will do it. I put everything, my heart and soul into making Eyesid the powerhouse that it is today. Now. I left a long time ago, and the company just continues to thrive. Isaot is one of the great sweater makers. Pant make

a shirt makers, knit shirt makers, polo shirt makers. They're incredible company. The colors are great, the fabrics are great. Guys, you ever wonder what you should wear, I'll make it easy for you. If you're gonna be casual, go in and look at ISID. Now that doesn't say that they don't have dress shirts and they don't have suits. You go find them. ISAOD is a collective brand that offers lifestyle apparel to everyone in America. And it's true, it's a fun brand, but it's also priced at fun prices

everyone can afford it. I love this brand. Of all the brands that I'm involved with, and you can name them, think about PVH and LVMH and all the brands, ISAOD is the one that's most personal to me because I was involved in crafting the future of this brand. The clothes are great, they're doing well. ISOD dot com, isaadat jcpenny. Go look for it. I think you can be very happy. And ladies, those of you the shopping for the guys in your lives, take a look. I think they'll be

very happy with your choices. Isaac for men, welcome back to it.

You can replace anyone. But now that I'm out of the world of corporate life and I'm a commentator and I'm a thinker, and I'm wondering about the rules in life in general. Is that true that everyone's replaceable? And I build a case tonight that it's not. Now we're a business show. I spent the first two years doing the show, and every time I started, I would start,

this is always fashion, this is business. And I did it because I felt the name always in Fashion might be limited and the truck drivers, the people in their cars, or people in gyms would hear the show Always in Fashion maybe turn off because they're not interested in fashion. So my brightest moments are when truck drivers call the station said I was listening to the radio. I have you tuned to seven to ten? Woor? I heard this show coming on always in Fashion. I was tempted to

turn it away. I heard the opening who is Mark Weber? And I stayed with it. I love the show, gives me great joy. But in spite of whatever I've done at this business show, Apple Spotify, at one point or another started categorizing me and this show is cultural and lifestyle, and I want to take a moment to talk about the culture and lifestyle as it relates to Even though we're a business show with a lot of and sense, I want to turn to the lifestyle party. It's said

everyone's replaceable in life. I beg to differ, particularly if you'll allow me. When it comes to love. We all get a chance to love. I did. I was married for a long time and I lost the love of my life, and I wondered what would my life look like going forward. That's a person who is irreplaceable. We all get a chance to love. I would hope every one of you gets the chance. The first true love is precious. You find it, you fight for it, you

never give up. Love is irreplaceable, but life is different for us. All The funny thing about life. It's life, it's living, and you may just get a second chance. Those of you getting a second chance or trying again have found love again, who are happy when they wake up in the morning, who have that spring in the step, no matter what comes your way. I remind you that your second chance is precious if you get it, never take it for granted. Fight for it, keep it, appreciate it.

The feeling of love is irreplaceable. And don't forget that that person you found is irreplaceable. Now. I know it's said that no one's irreplaceable, and I know it's not true. Lose love. It can't be replaced. Good Night,