Published on November 29, 2024 at 9:55 a.m.
Abercrombie & Fitch forgotten? Certainly not. The brand is considered “one of the stock market phenomena of the year 2024”.
The pop culture of the 2010s was marked by these shirtless models on the sidewalk and these boutiques which distributed perfume throughout the neighborhood… Abercrombie & Fitch was a whole era, not necessarily brilliant, which promised a wardrobe of ” teenage cool and popular” at the time when One Direction was dominating the charts. But after years of splendor, the hype of the American brand has collapsed. So much so that it was singled out by documentaries, including “Abercrombie & Fitch: A Brand on the Edge” available on Netflix, and appalling testimonies from former employees about the behind-the-scenes of the brand. But that’s obviously in the past since Abercrombie & Fitch is back, more powerful than ever. Relieved of its painful heritage, the brand has restored its image with clothing with more inclusive sizes, current designs and above all has succeeded in its digital shift. Abercrombie & Fitch used the health crisis and confinements to close its unprofitable stores. So much so that the brand returned to profit levels identical to those of the heyday, at the end of the 2000s. Sales figures were even boosted to 14% during this third quarter, which means growth extraordinary. But it is above all the image of the brand that succeeds in rebuilding itself, particularly on social networks. Influencers take over from naked model salespeople with inspiring hauls, thus creating desirability and virality.
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The dark side of Abercrombie & Fitch
Once synonymous with style and exclusivity among young people, the label has experienced a descent into hell marked by scandals and a tarnished reputation. In the 2000s, the brand thrived by cultivating an elitist image, with dark boutiques, skinny models and hypersexualized advertising campaigns. However, this strategy turned sour when accusations of discrimination emerged. Former CEO Mike Jeffries faced heavy criticism for controversial comments, including his assertion that the brand was only for “cool, beautiful people.” Hiring discrimination lawsuits, where employees claimed they were passed over because of their ethnicity, also occurred. Worse, an even darker scandal broke out: accusations of sex trafficking involving Mike Jeffries, close to Jeffrey Epstein. An investigation revealed that he allegedly orchestrated, with billionaire Les Wexner, a network exploiting men for sexual services at parties, under the promise of earnings or professional opportunities. At the same time, Abercrombie has failed to adapt to new consumer trends, such as a shift to more inclusive and casual clothing. The fall of an empire which therefore led to a complete overhaul. Bet successful?
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