Business

A&F takes hit on fat

Most of us may agree that Abercrombie & Fitch CEO Mike Jeffries is a rude man. But is he simply rude and crude, or is he rude and shrewd?

The 69-year-old preppy clothier last week shrugged off an old quote he gave to Salon.com.

“Candidly, we go after the cool kids,” he told the blog in 2006. “A lot of people don’t belong [in our clothes], and they can’t belong. Are we exclusionary? Absolutely.”

Jeffries said the quote, which seemed pretty definitive to many readers, was “taken out of context.” But he didn’t bother to explain how, and went on to re-emphasize that A&F “targets its marketing at a particular segment of customers.”

Apart from stationing half-naked boys outside its storefronts, A&F targets that particular segment by refusing to sell clothes in larger sizes.

The question on Wall Street (which, of course, is also a bit rude): Is that a smart bet?

Two-thirds of the US is overweight, and last week a survey claimed that Abercrombie’s reputation has taken a hit amid the new social media dust-up about the 2006 quote.

All of this comes as Jeffries is digging the retailer out of a years-long rut, in which sales and profits tanked badly.

But in the world of branding, it’s sometimes more important to stand for something than to stand for something good. In this case, Jeffries may have made a safe bet: Never underestimate the body-image problems of the average American teenager. –James Covert

Lost a Lure

Lure Fishbar on Broadway and Mercer is the latest SoHo hangout subject to closure rumors.

Lure, which attracts the likes of Gwyneth Paltrow and Beyoncé by night and serves sushi to power business players by day, could be shuttered in the fall, sources tell On the Money.

Among the regulars are Mediaite’s Dan Abrams, College Humor’s Ricky Van Veen and digital investor Michael Ovitz, among many others.

One source said: “It makes me sick to think of losing it.”

Our real-estate sources say Lure owner John McDonald may close his business when the lease runs out because the rent is going up by an exorbitant amount. McDonald declined to comment.

Lure has a particularly notable landlord: Peter Brant, who owns Interview magazine and Art in America magazine among other titles and is, of course, married to former supermodel Stephanie Seymour.

Brant did not return a call for comment. –Claire Atkinson

Hailo, prince

Prince Harry is Your Royal High-tech-ness.

The young royal didn’t forget his loyal subjects in New York’s tech industry when he visited last week.

Prince Harry, while making the rounds in the city, made time for some high-profile tech firms that were founded in the UK but have crossed the pond.

Co-founder of Hailo Russ Hall showed the red-headed royal how to hail a New York City taxi from the company’s app.

Hailo, one of the firms fighting for the city to allow e-hail technology, tweeted a pic of Harry examining the app.

Also, Prince Harry partied with another UK firm, Blippar, a company developing innovative augmented- reality marketing experiences.

The party in the Meatpacking District was for the Britain Is Great trade mission. –Garett Sloane

Warp speed

The latest “Star Trek” movie just hit theaters, but rumors are flying about the next film.

While not much has been revealed about that movie, Paramount seems to be interested in continuing the franchise.

“There’s no question that after this movie people will be very excited to see [these characters] again, and we will be looking forward to making that happen,” Paramount Vice Chairman Rob Moore told On the Money at a special screening of “Star Trek Into Darkness” in New York.

One possible issue could be the availability of director J.J. Abrams, who is now slated to direct the next “Star Wars” movie.

Abrams has been vague about whether he’d be able to direct but said his production company, Bad Robot, would produce it.

Moore said that Abrams would be part of the team but noted his exact role has yet to be determined.

The current release stars Zoe Saldana and Chris Pine, who was more matter-of-fact about his involvement in another installment.

“Whether I’m up for it or not, I’m contractually obligated to do it, so I’ll be back.” –Hilary Lewis