WWD CEO Summit

Renew Your Closet: We compiled the best sites for retailing your clothes online, so you can put that new money toward your updated, 2013 wardrobe! Learn from the Best: J. Crew's Mickey Drexler revealed some secrets of his success at this week's WWD CEO summit. Fashion Family Tragedy: In unfortunate news this week, a plane carrying members of the Missoni family went missing, amid rumors of a possible kidnapping. However, the company has decided that the menswear show must go on, so it is still scheduled for Sunday in Milan.

And other things we learned at today's WWD CEO Summit.

It's no surprise that at last night's WWD CEO Summit, Jacobs declared Mrs. Prada his all-time favorite designer, dead or alive. "What she's created with her husband is really incredible," he said. "I'm just a big fan." That wasn't all Jacobs revealed during his chat with WWD executive editor Bridget Foley. The designer went on about his current contract negotiations with LVMH (without saying too much, of course). "I'm not really sure...I know that we're discussing [renegotiations]," he said vaguely when Foley pressed. He was more frank about his upcoming beauty line with Sephora.

Theory CEO Andrew Rosen began working in New York City's Garment Center before you were probably born. Both his father and grandfather were in the garment business, so he's witnessed its fairly steady decline over the past 50 years. Today at WWD's CEO Summit, the serial investor—he helps back Proenza Schouler, Rag & Bone, Alice + Olivia, amongst others—announced a new program to help reverse that trend.

J.Crew CEO Mickey Drexler started his career as a Bloomingdale's buyer some 40 years ago. Today at WWD's CEO Summit, the "man who dressed America" shared some pretty valuable life lessons. His caveat? "Most of what I say relates to the fashion retail business, most of what I say does not pertain to startup business." Still, we say you'll get something out of his talk, no matter what you're currently working on.