I was in London on Friday for work, so took the opportunity to stay over and do some quick shopping as well. I made my first visit to Abercrombie’s first store in the UK, in Burlington Gardens, just off Saville Row.
My thoughts? Well it is enormous for a start – much bigger than any stores I’d visited in the US. It’s a bit more modern as well in that it’s very dark. Someone else that’s been described it as being like a nightclub, and I think that description is pretty spot on.
The range was pretty good, service was good too, but I have to say the prices are very steep compared to the US. Hoodies were £80, t-shirts as much as £40. Sure rents are higher over here, but does that really justify doubling costs?
Interesting to note as well what Mike Kramer, Abercrombie’s CFO, said about international pricing in a recent conference call….
We do understand that there’s going to be a cost increase related to occupancy. We also understand there will be a cost increase related to payroll in certain areas. But we also believe that there will be something to offset that and that is our pricing and what we will be able to price our product as compared to what you are actually seeing in U.S. dollars here domestically.
Rip-off Britain yet again!