Worldwide icon-chevron-right Asia icon-chevron-right Hong Kong icon-chevron-right Smell ya later: Abercrombie & Fitch is closing down in Hong Kong
News / City Life

Smell ya later: Abercrombie & Fitch is closing down in Hong Kong

Abercrombie & Fitch Hong Kong

Hong Kong douchebros are in mourning today following the announcement that Abercrombie & Fitch will be shutting down its Pedder Street flagship. While it's a win for people interested in the proper conservation of Hong Kong's colonial-era gems as much as it's a win for people interested in the proper conservation of their sense of smell, they don't plan to close until at least the end of Q2 2017. There's no word yet on how long it will take for the smell of the signature A&F cologne to clear out of Pedder Street, however, but it's anticipated to follow soon after the store closes its doors for the final time.

The closure comes amid an economic downturn as well as a slump in shoppers from Mainland China. That said, the company has also announced plans to add five more stores to its stable in China before Chinese New Year, though the closure of the four-storey Central site means that there will no longer be any standalone A&F stores here. In exiting next year, the company has activated an early exit clause in its contract which could see them whacked with a $16m "lease termination charge" in the quarter after it closes. They're currently forking out $7m per month to rent the iconic white structure. No word yet either on who'll take the prime real estate in the heart of the city, but watch this space.

 

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