American retailer pandering to teens and consumers who happen to be thirsty for faceless baes and picturesque abs adorning their shopping bags, Abercrombie & Fitch have declared an unceremonious bow out of the Australian fashion scene, announcing their withdrawal from the market and closure of stores in Sydney and Melbourne.
Abercrombie & Fitch have proved to be decidedly un-fetch in the eyes of the discerning Australian fashion consumer, as sales in Australia since their introduction in 2013 have failed to keep up with local and international competition. The Age reports that the company’s CFO Joanne Crevoisrrat confirmed a lack of sales caused the brand’s demise Down Under: “The performance of Australian stores has been disappointing, even after allowing for the seasonality challenge of operating in the southern hemisphere.”
The company has seen sales plummet globally, with net sales reportedly down 14% in the fourth quarter of last year. Aside from closing shop in Australia, the company is also selling off their $11 million private corporate jet. Boo.
The closures come as the Australian fashion scene becomes fiercer by the day: the market is looking helluva lot more international than it was even a few years ago, with global stalwarts H&M, Topshop, and Zara setting up camp becoming the ‘strayan retail norm. H&M’s first store in Brisbane was opened just this week at Indooroopilly, flanked with crowds and queues. And the Swedish retail king has already announced plans for a second store to open up in Brisbane later this year. RIP A&F Australia. No one cared about you. 🙁
Via The Age.
Lead image by Kevin Lee via Getty.
