Former Abercrombie & Fitch Chairman and CEO Mike Jeffries faced consequences after being arrested on federal sex trafficking charges. The company released a statement expressing their commitment to cooperating with law enforcement during the legal process. Abercrombie & Fitch distanced themselves from Jeffries, emphasizing that his employment with the company had ended nearly a decade ago. They condemned his alleged behavior and highlighted their zero-tolerance policy for abuse, harassment, and discrimination.
Following Jeffries’ arrest, Abercrombie’s shares dropped by approximately 5%. The charges against Jeffries, along with his partner Matthew Smith and another associate, included sex trafficking and interstate prostitution allegations dating back to Jeffries’ time at Abercrombie. Prosecutors claimed that Jeffries and Smith coerced aspiring models into engaging in sexual acts in exchange for modeling opportunities, targeting financially vulnerable individuals aspiring to work in the fashion industry.
During Jeffries’ tenure, Abercrombie was known for its provocative marketing strategies and focus on appealing to a specific demographic. However, the extent of the abuse Jeffries allegedly committed only came to light after an investigative report by the BBC. Subsequently, a lawsuit was filed against Jeffries and Abercrombie by a man who claimed to have been victimized by the former CEO during a modeling opportunity in the 2010s.
Federal prosecutors eventually brought charges against Jeffries, leading to his arrest. His attorney stated that they would address the allegations in court rather than through the media. Jeffries was removed from Abercrombie in 2014 amid declining sales. The company, now under the leadership of CEO Fran Horowitz, has undergone a transformation and is performing well in the apparel industry. Abercrombie has embraced inclusive sizing, diverse marketing, and a commitment to serving a broad customer base.
Abercrombie expressed support for the victims who have spoken out against Jeffries. The company acknowledged the bravery of those who have come forward as part of the federal investigation.
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Translation to B1 English:
The former Chairman and CEO of Abercrombie & Fitch, Mike Jeffries, faced repercussions after being arrested on charges of federal sex trafficking. The company issued a statement affirming their cooperation with law enforcement throughout the legal process. Abercrombie & Fitch distanced themselves from Jeffries, emphasizing that his employment with the company had ended nearly a decade ago. They condemned his alleged behavior and highlighted their zero-tolerance policy for abuse, harassment, and discrimination.
Following Jeffries’ arrest, Abercrombie’s shares dropped by about 5%. The charges against Jeffries, along with his partner Matthew Smith and another associate, included allegations of sex trafficking and interstate prostitution dating back to Jeffries’ time at Abercrombie. Prosecutors claimed that Jeffries and Smith coerced aspiring models into engaging in sexual acts in exchange for modeling opportunities, targeting financially vulnerable individuals aspiring to work in the fashion industry.
During Jeffries’ tenure, Abercrombie was known for its provocative marketing strategies and focus on appealing to a specific demographic. However, the extent of the abuse Jeffries allegedly committed only came to light after an investigative report by the BBC. Subsequently, a lawsuit was filed against Jeffries and Abercrombie by a man who claimed to have been victimized by the former CEO during a modeling opportunity in the 2010s.
Federal prosecutors eventually brought charges against Jeffries, leading to his arrest. His attorney stated that they would address the allegations in court rather than through the media. Jeffries was removed from Abercrombie in 2014 amid declining sales. The company, now under the leadership of CEO Fran Horowitz, has undergone a transformation and is performing well in the apparel industry. Abercrombie has embraced inclusive sizing, diverse marketing, and a commitment to serving a broad customer base.
Abercrombie expressed support for the victims who have spoken out against Jeffries. The company acknowledged the bravery of those who have come forward as part of the federal investigation.