Abercrombie to Shift to Older Demographic

Abercrombie & Fitch Co. (New Albany, Ohio) has announced a shift in strategy, aiming its offerings at an older audience.

The retailer, whose ceo once famously said that his clothing line  was exclusively for “cool” people and he doesn't want overweight people to wear his clothes, will feature new assortments, marketing and pricing to target college-aged customers, said Jonathan Ramsden, chief operating officer and cfo.

And, he said, the Hollister brand will increasingly focus on low prices and rapidly changing styles to recapture shoppers who’ve turned to retailers such as Forever 21.

The retailer and its ceo, Mike Jeffries, have been under pressure from one of their leading investors, Engaged Capital LLC (Newport Beach, Calif.), after four straight quarters of declining sales. At Engaged’s urging, Jeffries stepped down as chairman last year and the investor called for a new top executive. Last month, it nominated five of its own to the retailer’s board of directors.

The board has announced plans to hire presidents for both the Abercrombie and Hollister brands “fairly soon,” looking for people who have the potential to succeed Jeffries, according to Ramsden.