Abercrombie & Fitch Prepares To Develop Market In Europe
This company plans to march into Italy, France, German, Spain, Danmark and Sweden. And it adds new and main business strongholds in England. Meanwhile,the firm announced that they"ve already invited the PBS Real Estate and its person in charge Ms.Laura Pomerantz to be their real estate consultant in Europe and Britain. The real estate company to provide both the owner and the tenants of the innovation of commercial real estate solutions, this will be responsible for A & F company to look for their golden stores.Laura Pomerantz has helped the Abercrombie & Fitch open its flagship on Fifth Avenue in Manhattan and set up the RUEHL store on Bleecker Street in Manhattan.Abercrombie & Fitch is specialized in designing designed high-priced American casual apparel brand for university students of 18-22 years old. It currently operates four brands including Abercrombie & Fitch, Abercrombie, Hollister Co. and RUEHL No. 925, They design according to the preference and economic ability of the consumers in different ages. Besides, the company launched another brand [Concept 5" to the market in January 2008.
The youth`s cloth shopkeepers thought the Europe market has a strong demand to Abercrombie & Fitch. The successful operating results of the first flagship store in Europe, which is located in Burlington Gardens, London on the 7th Avenue can be confirmed. Chairman and executive officer Mike Jeffries said that, Abercrombie & Fitch has conducted a long-time evaluation for European market, which showed that this market had a very great need for Abercrombie & Fitch. He thought it was just the best time for Abercrombie & Fitch to activate the plan of European market in its international strategy. But actually, many stockists who set up their headquarters in America find it harder to operate European market than what they have expected. There"re numerous competitors in European market,especially the competition between Wal-Mart and Gap in Germany. And the path about relying on for support is not mature enough so that the road to expand and operate European market becomes harder. However, Abercrombie & Fitch is confident the recent sale of the company"s profit less than analysts had expected same-store earnings growth rate higher than 2% of its total sales for the current month up to 293.2 million U.S. dollars. It grows 21% compared with $243 million of the same period last year and its sales volume of 1-6 months this year is $1.25billion, 15% higher than that of the same period last year.
Abercrombie & Fitch Inc.has 182 stores with the same name and 409 Hollister Co. Stores and 17 RUEHL stores in the United States. There are three Abercrombie & Fitch stores and three Hollister Co. Stores in Canada, and a flagship store in London.