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.
- Sustainable fibres, finishes and processes at ITMA
- Freeing up working capital in the supply chain
- Five ways to tackle market and demand volatility
- ‘Fixing Fashion’ one stitch at a time
- Why China 5-year plan won't change garment-making
- Uniqlo under fire again for China worker abuses
- German sustainable textile scheme heads to Vietnam
- 3D tool uses product data to shake up shopping
- Fast Retailing in deal for laser treated garments
- US Q3 in brief: Shoe Carnival, Caleres
- Wearable technology: The future market potential for smart garments and e-textiles
- Practical Brand Sourcing Strategy
- Statistics: Trends in Global and Regional Man-made Fibre Production - 2015
- Trade and Trade Policy: The World’s Leading Clothing Exporters and Key Markets 2015
- Myanmar's Garment Sector in 2015 - now with updated members' directory