American fashion company Abercrombie & Fitch has created six new managerial positions in an attempt to turn the tide, but the former fashion powerhouse is still on the lookout for a new CEO.
New main designers
Over the past two years, Abercrombie & Fitch's quarterly results went from bad to worse as its young customer base seems to have lost interest in the brand while the impact of its exclusive brand is waning. Many customers have now moved to competitors like Zara, H&M and Forever 21.
To get the company back on track, Abercrombie & Fitch has hired two new designers: Ralph Lauren's Aaron Levine and (Tommy Hillfiger's parent company) PVH Corp's Kristina Szasz. Levine will take charge of the men's department while Szasz will tackle the women's department.
Other new additions were Club Monaco's Kurt Hoffman, Kohl's Corp's Monica Margerum and Carter's Inc's Amy Sveda. Stacie Beaver, who has been with the company for 15 years, is now Abercrombie & Fitch's general manager for the women's department.
The company is still on the lookout for a new CEO, since it let go Michael Jeffries in December 2014. For the largest part, he had been responsible for Abercrombie & Fitch's image and its subsidiary brands like Hollister.