Abercrombie's subsidiary, Gilly Hicks, shows signs of expansion in Spain
In an exciting development, American clothing retail giant Abercrombie & Fitch is set to expand its footprint in Spain. Following the successful launch of a store in Madrid, the company is now considering opening a second Abercrombie store in Barcelona, and preparing for the arrival of its lingerie brand, Gilly Hicks.
The Gilly Hicks brand offers a variety of products, including men's and women's lingerie, pajamas, accessories, and a line of perfumes. The offer follows a similar concept to Abercrombie & Fitch and its sister brand, Hollister. The brand has already made its mark in Europe, with its first European store opening in London last year, and its second in Cardiff, the capital of Wales. Gilly Hicks is also finalizing its entry into the German city of Oberhausen.
As of now, Gilly Hicks has fourteen stores worldwide. The exact locations in Spain where Abercrombie & Fitch plans to open Gilly Hicks stores have not been publicly disclosed. However, the manager of the Abercrombie store in Madrid's Salamanca neighborhood confirmed the US firm's interest in bringing Gilly Hicks to Spain.
The details provided by Abercrombie regarding the Gilly Hicks project in Spain are limited and could indicate an early exploration phase. Despite this, the company has reported impressive financial results. In the first three quarters of the year, Abercrombie & Fitch recorded a revenue of 2,829.3 million dollars and a profit of 108 million dollars. The profit of Abercrombie & Fitch increased by 87% in this period, and the company maintained its growth momentum in the third quarter of its fiscal year, with a 21.5% increase in sales.
While the details about the second Abercrombie store in Barcelona are not yet disclosed, the success of the Madrid store and the interest in Gilly Hicks suggest that Abercrombie & Fitch is confident in its expansion plans in Spain. As the company continues to explore potential locations, fans of the brand can look forward to more exciting developments in the near future.
