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

Courtesy: VF Corporation

Apparel/Garments | On 5th May 2016

VF Corp’s Q1 2016 revenue up 2% to $2.8 billion

VF Corporation reported a rise of 2 per cent in its total revenue to...

Textiles | On 5th May 2016

Brazilian cotton prices rise nearly 10% in April

Firm demand, decrease in supply from important cotton growing...

Apparel/Garments | On 5th May 2016

Kishore Biyani named Future Retail’s vice-chairman

Future Retail has appointed its Independent Director VK Chopra as...

Interviews View All

GS Krishnan
Novozymes South Asia Pvt. Ltd.

Can enzymes prove to be sustainable in the textile sector? How can they...

Akshay Narvekar
Bombay Shirt Company

Kiosk marketing is a good means of marketing in the Indian apparel market. ...

Anurag Rajpal
American Swan Brand

How will the Union Budget 2014-15 do good to the Indian textile sector? Is ...

Paolo Ocleppo
Sandvik Hyperion

<b><i>Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion...

Dr. Rene Wollert
Freudenberg Nonwovens

<i><b>Dr. Rene Wollert</b> discusses the current scenario of the global...

Avi Bash

Avi Bash is an Independent Nonwovens Sales & Marketing Consultant with...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

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
April 2016

F2F Magazine

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

SUBSCRIBE


Browse Our Archives

GO


feedback
We would love to hear from you about your experience using the new interface. A quick review of yours would help us give you a better experience.
Advanced Search