Home / Knowledge / News / Apparel/Garments / First Insight partners retailer Abercrombie & Fitch
First Insight partners retailer Abercrombie & Fitch
06
Feb '14
First Insight, Inc., a technology company transforming how leading retailers make product investment and pricing decisions, announced a partnership agreement with leading global specialty retailer Abercrombie & Fitch Co. 
 
As part of the agreement, First Insight will provide its consumer-driven predictive analytics to help Abercrombie & Fitch make faster and more accurate design, buying and pricing decisions, thereby reducing markdowns and mitigating risks associated with new product introductions.
 
“We are excited to be partnering with Abercrombie & Fitch, one of the world’s leading brands in specialty retail”
 
The partnership is based on Abercrombie’s confirmation of the accuracy of First Insight’s solution during a thorough due diligence process. In partnering with First Insight, Abercrombie & Fitch gains strategic investment guidance on thousands of new products and designs. 
 
Through online social engagement tools, First Insight enables Abercrombie & Fitch to gather real-time consumer preference and pricing data on candidate new products, months before products are launched in the market. This data is filtered through First Insight’s predictive analytic models to determine which products present the greatest opportunity.
 
First Insight’s solution is now enabling Abercrombie & Fitch to:
Test new candidate products, in every product category, every week, throughout the merchandising organization and the product development lifecycle (design, selection, pricing, and buy depth).
 
Execute on its strategy to decrease promotions and increase average unit retail prices.
“We are excited to be partnering with Abercrombie & Fitch, one of the world’s leading brands in specialty retail,” said Greg Petro, President and CEO of First Insight. 
 
“Our mission is to provide retailers such as Abercrombie & Fitch with a fast, scalable solution that enables them to leverage customer feedback and predictive analytics to make product decisions with confidence. It is further exciting to see Abercrombie & Fitch fully adopt and embrace our solution, and we look forward to driving measurable results.”
 
“First Insight will be a critical element in the transformative changes to our business,” said Gillian Galner, GVP of Abercrombie & Fitch. “By using First Insight to identify more winning products and price them appropriately, we are increasing speed to market with the right styles which will yield increases in sales and margin. After evaluating the solution for an extended period, we have confirmed the solution will deliver a strong return on investment.”
 

First Insight

Must ReadView All

Apparel/Garments | On 29th Jul 2016

Q2FY17 income from operations triples at Dixie Group

Income from continuing operations at the Dixie Group for the second...

Courtesy: YFA Tradeshow

Textiles | On 29th Jul 2016

Chinese Pavilion to be highlight of YFA 2016 Show

A Chinese Pavilion will be the highlight of the upcoming second...

Courtesy: India ITME Society

Textiles | On 29th Jul 2016

Bangladesh hopes for better trade ties with India

Bangladesh’s Minister of State for Textiles & Jute Mirza Azam said he ...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
June 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search