Abercrombie & Fitch 1998 Annual Report Download - page 5

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Abercrombie &Fitch Co.
CHAIRMAN’S LETTER
Abercrombie & Fitch had a successful year. We posted another series of record setting quarters.
But that’s not why I’m so encouraged. We were successful this year because the A&F brand is
more authentic and relevant than ever. The brand is our lifestyle, our focus—it ensures growth
and promises stability. A great brand is a center of growth and revenue—it represents a rela-
tionship with customers. It’s not a faddish chip to be cashed in on short-sighted gains.
The value of having a great brand is far-reaching and cannot be overstated—it’s a
snowball effect. The A&F label gives us the ability to evolve, creating endless growth oppor-
tunities. It helps us attract the brightest, most talented young people from around the country.
It attracts millions to our website. It allows for greater profit margins. It lessens the risk of moving
on new business concepts. It promotes innovation. It ensures long-term profitability. It adds
built-in value to everything we produce. It accelerates growth. It stabilizes. It gives focus and
direction. It produces an emotional response in consumers.
But emotional responses and aspirational lifestyles can’t be faked. Authenticity fuels
A&F’s branded momentum. Our home office and stores are filled with our target customers—
Abercrombie & Fitch merchandisers, designers and marketing teams are filled with fresh-faced,
just-out-of-school kids from select universities around the country. Market research
isn’t forecasts and focus groups. We go to college campuses and specialized events around the
country, talking, watching and hanging out with our customers. Few companies and even fewer
competing brands can stake a legitimate claim to authenticity—it takes time and performance to
develop a heritage, a meaning.
Peerless quality is and will remain the Abercrombie & Fitch standard. I got a reality check