WASHINGTON — Abercrombie & Fitch, once the king of teen apparel, has fallen out of favor and wants to get its mojo back.
Abercrombie said it is launching its largest-ever advertising campaign and rebranding itself to be more inclusive and diverse.
The apparel chain, whose storefronts and advertising often featured young, scantily clad models in suggestive poses, has been struggling with falling sales and recent losses as its emphasis on being an exclusive club for young consumers loses its appeal.
The New Albany, Ohio-based chain also blames a drop-off in shopper traffic at malls and a significant decline in business from tourists at its flagship stores.
So the retailer said it’s time for a reboot.
“This new brand position is the product of an 18-month effort to create a brand identify that communicates our focus on our customers’ needs and aspirations,” said Fran Horowitz, chief merchandising officer. “Rather than buying clothes that symbolize membership in an exclusive group, today’s consumer celebrates individuality and uniqueness.”
“We are embracing the opportunity to show the world it is a new day at A&F,” she said.
Abercrombie & Fitch had $783 million in second-quarter revenue, down 4 percent from a year ago. It reported a quarterly net loss of $13.1 million, compared to a small profit in the same quarter a year earlier.
Investors have also lost patience in the chain’s turnaround efforts; Abercrombie & Fitch stock (NYSE: ANF) has lost more than 40 percent of its value this year.
