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 Essence of privilege'

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Join date : 2011-07-07

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PostSubject: Essence of privilege'   Essence of privilege' Icon_minitimeWed Aug 24, 2011 7:03 am

'Essence of privilege'
The company, which also sells clothing under the surfing-themed brand Hollister and the Australian-themed underwear brand Gilly Hicks, operates more than 1,000 stores in North America, Europe (including 21 in the UK as of 18 March) and Japan.

Known for the squeaky-clean, all-American look of its models, the company trades on the New York Stock Exchange and had a turnover of $3.5bn (£2.1bn) in 2010.

In investor materials, the company describes its flagship Abercrombie and Fitch brand as "rooted in East Coast traditions and Ivy League heritage" and "the essence of privilege and casual luxury".

The company said in a statement it had offered "a substantial payment" to Mr Sorrentino and the television show's producers to have Mr Sorrentino wear another clothing brand.

It has also extended the offer to the other cast members, and was "urgently" awaiting a response.

MTV did not immediately comment on the company's offer.

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