The US Federal Bureau of Investigation (FBI) launched an investigation against Mike Jeffries, the former CEO of the American clothing company Abercrombie & Fitch, following sexual abuse allegations revealed by the BBC.
Jeffries and his British partner, Matthew Smith, face sex trafficking charges.
A BBC documentary released in October revealed allegations that Jeffries and Smith exploited young men for money at private sex parties they held at their homes in New York and luxury hotels in different cities around the world.
Eight men who spoke to the BBC said they attended these events in cities such as London, Paris, and Marrakech between 2009 and 2015.
These individuals alleged that Jeffries and Smith had sexual intercourse with them or "manipulated" them into having sex with each other.
Michael Stanton Jeffries (born 1944 or 1945) is an American businessman who was CEO of clothing retailer Abercrombie & Fitch from 1992 to 2014. During Jeffries' tenure, Abercrombie & Fitch grew from a "fashion backwater" losing $25 million yearly to a lifestyle brand grossing $2 billion yearly by 2006. Jeffries was criticized for using semi-nude models in his company's advertising, selling clothes with racially and sexually insensitive slogans, and his candid stance that Abercrombie & Fitch marketed solely to the "cool kids".
Mike Jeffries built the Abercrombie & Fitch (A&F) brand into a billion-dollar company over two decades, starting in the 1990s. Provocative advertisements highlighting sexuality and employing topless male models in stores played an important role in the company's growth adventure.
Jeffries, who frequently came to the fore as one of the highest-paid CEOs in the USA, was at the center of accusations of discrimination against employees. He has faced criticism over his spending. Complaints were also expressed that his partner, Matthew Smith, had unofficial influence over the company.
Jeffries' rise story
Provocative advertisements highlighting sexuality and employing topless male models in stores played an important role in the growth adventure of the Abercrombie & Fitch (A&F) brand, becoming a billion-dollar company.
Jeffries, who frequently came to the fore as one of the highest-paid CEOs in the USA, was at the center of accusations of discrimination against employees.
After falling sales in 2014, Jeffries left office, taking with him a retirement benefit of $25 million.
About the company
The company was founded in New York in 1892 by David T Abercrombie to produce outdoor sports clothing for upper-class people. Ezra Fitch, a wealthy lawyer, contractor, and loyal Abercrombie customer, purchased a significant stake in the business in 1900. He was incorporated into the company in 1904 and renamed "Abercrombie & Fitch Co." Fitch eventually purchased Abercrombie and became its sole owner from 1907 to 1928. The company was a distinguished manufacturer of sporting and recreational goods, particularly notable for its expensive hunting rifles, fishing rods, fishing boats, and tents. Ernest Hemingway was also a regular customer; The gun with which he committed suicide in 1961 was purchased from Abercrombie & Fitch. After Hemingway's death, his wife put several of his guns up for sale on consignment with the company.
In 1976, Abercrombie & Fitch filed for Chapter 11 bankruptcy protection. In 1977, the company closed its flagship store at Madison Avenue and East 45th Street in New York.
While Abercrombie & Fitch ceased operations during its bankruptcy, the brand survived: In 1978, Oshman's Sporting Goods, a Houston-based retail chain, bought the name and mailing list of the defunct firm for $1.5 million (equivalent to $6 million in 2021). bought it.[10] Oshman relaunched the company as a mail-order retailer specializing in hunting clothing and innovative products. Retail stores also opened in Beverly Hills, Dallas, and (in the mid-1980s) New York.
In 1988, Oshman's sold the brand and its operations to Columbus, Ohio-based The Limited (the parent company of several retail clothing chains, including Victoria's Secret). Under The Limited (which later rebranded itself as L Brands), A&F gradually shifted its focus to young adults, later spun off as a publicly traded company, and eventually became one of the largest apparel companies in the United States.