Abercrombie & Fitch to reinvent itself
February 17 , 2014
Abercrombie & Fitch has managed to attract tons of teenagers into buying its trendy and pricey clothing but the company is now struggling to reinvent itself with the changing styles and tastes.
CEO Mike Jeffries, who oversees almost everything at the company, said A&F created an elite look in the 1990s and hit annual revenue of about $250M.
However, critics say today's teens are not into "cool-kid thing" anymore and "this generation is about inclusiveness and valuing diversity." Hence it becomes important for the company to reinvent its image.
"What we'll remember Jeffries for now is for failing to change, for all the store closures, for the way employees were treated," an analyst said. "And that's unfortunate."