AUSTRALIA: Abercrombie & Fitch to take Hollister overseas
Teen clothing retailer Abercrombie & Fitch has confirmed that it plans to open its first Hollister stores in Australia and the Middle East next year.
Company CFO Jonathan Ramsden told analysts last week that the group is finalising an agreement to establish a joint venture with a Middle East-based partner that will provide operational support.
In 2013, the company plans to open approximately 20 international Hollister stores. The openings will be focused on "under-penetrated markets where we expect minimal cannibalization," said Ramsden.
He also said the company has scaled back its Abercrombie & Fitch store openings in Dublin and Seoul from full flagship stores to smaller tier 1 formats, which will mean a reduction in capital expenditure.
Last week, the company said that first-half profit halved on the back of slowing international sales growth combined with its first drop in US comparable sales in three years.
- Yuan devaluation impact mixed for garment firms
- Will Vietnam struggle with impending trade deals?
- The new age of disruption on apparel production
- China devaluation: what’s the big deal?
- Gap bullish on China growth opportunities
- US Q2 in brief: Guess, PVH, Abercrombie & Fitch
- Gap restructuring weighs on Q2 as profit falls 34%
- Luen Thai to continue investment in Vietnam
- Ralph Lauren debuts biometic smart shirt
- China market woes could hit consumer spending
- Global Database of the Top 1000 Apparel Producers - Company Names, Financial Performance, and Contact Details
- Ethiopia – the emerging textile and clothing industry
- Myanmar's Garment Sector in 2015 - now with updated members' directory
- Global market review of lingerie - forecasts to 2020
- Global market review of swimwear - forecasts to 2019