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.
- Speed to market key to Adidas 2020 growth plan
- SOURCING: Production problems weigh on Pakistan
- SuperGroup to adapt sourcing model for speed
- Cutting-edge companies focus on consumer needs
- What next for smart fabrics and garments?
- Lululemon Athletica on “strong growth” track
- Swedish textile water project to expand globally
- PVH “pleased” after swinging to Q4 profit
- Organic cotton assessment tool launches
- Apparel and textiles rank high on EU alert system
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Apparel Retail: Top 5 Emerging Markets Industry Guide
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019