Remember Abercrombie & Fitch Co.? You know, the store whose expertly worn denim and branded hoodies you likely thought were the height of cool, oh, about this time 10 years ago? Well, it's noticed you haven't exactly visited in a while. And, it's pretty bummed about it. Now, the retailer is on a mission to win back your business.
The Business of Fashion reports that Abercrombie is under major pressure from an investor to change its management and brand strategy amid four straight quarters of slumping sales. Jonathan Ramsden, A&F's chief financial officer, stated that the company plans to change its designs, marketing, and pricing structure to focus on college-aged customers rather than teens. Meanwhile, Ramsden says Abercrombie offshoot brand Hollister will lower its prices to compete with fast-fashion retailers like Forever 21.
Ramsden did not share details on the changes, but we can't help but wonder if the new, more mature designs might include higher price points to match. And, as far as marketing goes, whether A&F's barely-SFW ads could get any more adult remains to be seen. (The Business of Fashion)
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