One day you’re in and the next day you’re out. After just a few short years and tumbling sales, Abercrombie & Fitch will exit Australia as the teen retailer struggles to reinvent itself.
The Ohio-based retailing giant with a market capitalisation of USD1.4 billion and which operates nearly 1000 stores globally, has had a difficult few years after rocketing to success to one of the hottest teen brands in the 1990s and becoming known for their chiselled and often shirtless male model staff.
Abercrombie – which operates its namesake brand, AbercrombieKids and Hollister & Co – will close its two stores in Sydney and Melbourne after failing to gain traction with the local consumer in the past two years.
(Source: The Sydney Morning Herald Online )