Abercrombie & Fitch Co. is sending its Australian-themed Gilly Hicks intimates division down under.
As it battles declining revenues and margins, the company said late Tuesday it will close the 28-unit operation and instead incorporate the Gilly Hicks brand into its Hollister stores, which number nearly 600, and online. Gilly Hicks opened its first five stores at the start of 2008.
A Stella McCartney sketch of a custom dress made from protein-based silk in partnership with biotech lab Bolt Threads. The dress will be displayed at The Museum of Modern Art's upcoming design exhibition, "Items: Is Fashion Modern?"