Despite its oiled-and-waxed, double-torsoed human Cerberuses manning the doors, its thumping Top 50 remixes, and that smell, Abercrombie & Fitch is bleeding money. In the past year alone, the brand has lost a third of its market value, closed 71 of its U.S. stores, and will close another 180 within the next three years.
The bottom line? Graphic tees and expensive distressed denim sold by shirtless men with Ninja Turtle abs aren't cool anymore with teens who don't want to look like everyone else in home room. Business Insider heralds brands, like H&M and Forever21, that tout non-uniform, individualistic style that is cheaper, more exciting options for Millennials, Abercrombie & Fitch's target audience.
But, don't expect the brand to go away just yet. A&F is still cool with the overseas set. With crazy sales in Hong Kong and abroad, Abercrombie & Fitch plans to focus its energy on making over International customers with its lacrosse-player-in-Cabo image. But if all this means that our next trip to Soho means that we won't have to duck around spray-tanned 16-year-olds spritzing $50 bottles of musk, we have to say, "Good riddance, you hooligans! It's time you got off our porch!" (Business Week)