Abercrombie and Fitch names new team, but shares still slump

abercrombie and fitch

Abercrombie & Fitch shares fell 6.3% Tuesday to a six-year-plus low after the teen retailer confirmed radical changes for its key signature brand.

The retailer named new head designers for A&F menswear and womenswear and general managers for men’s, women’s and abercrombie kids businesses.

Heading the list is Karl Lagerfeld designer Kristina Szasz who becomes head designer for A&F Womens, effective late September. She joins from PVH in Europe where she served as design director for Denim at Karl Lagerfeld and Tommy Hilfiger. She has also held a number of creative director and design roles for Lee, Dockers, Iceberg, Nike, Ralph Lauren and Emilio Pucci.

Her men’s counterpart is Aaron Levine who joined from Club Monaco in July, where he was VP of Men`s Design. He has also held a number of senior design roles at Jack Spade, Rogues Gallery and Hickey Freeman.

Meanwhile, Stacie Beaver is promoted to general manager for A&F Womens. She has worked for A&F for over 15 years in a variety of senior positions, most recently leading the Bottoms business for Men and Women across Hollister and A&F.

Kurt Hoffman is appointed general manager for A&F Mens. He joined A&F in March from Club Monaco, where as senior director of Men`s Merchandising. Previously, he helped re-launch the RRL brand for Ralph Lauren, worked to launch the Men`s Shop concept for J Crew, and was part of the team who led the global expansion for Jack Spade.

Monica Margerum becomes head of planning operations for A&F and abercrombie kids. She joined in August from Kohl`s, where she was senior VP of Planning for Juniors and Kids. Previously, she spent 14 years at Express, where she most recently served as director of Merchandise Planning.

Amy Sveda also becomes general manager for abercrombie kids. She joined in May from Carter`s, where she helped revitalize the company`s OshKosh brand. Prior to this, she worked at Louis Vuitton where she launched the brand`s e-commerce site, and at Victoria`s Secret, where she led various sub-brands within the broader business.

Christos Angelides, brand president for Abercrombie & Fitch and abercrombie kids, said: “We have put a talented team in place who are relentlessly focused on delivering quality merchandise and an excellent customer experience. While our turnaround continues to be a work in progress, these changes will significantly contribute to moving the A&F brand forward.”

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