Abercrombie selling company plane; marks end of an era

New York

IN the clearest sign yet that Abercrombie & Fitch Co's go-go days are over, the company is selling its private plane. The teen retailer put the jet on the market last quarter, chief financial officer Joanne Crevoiserat said on Wednesday. Abercrombie also had to write down the value of the aircraft by US$11 million, she said. The company hasn't yet found a buyer for the plane.

The move marks the end of an era in which Abercrombie executives jetted around the country with models, actors and white-glove table service. Former CEO Mike Jeffries, who stepped down in December at age 70, once had a 40-plus page manual that dictated the dress, music and behaviour of people flying on the company's Gulfstream G550.