While other retailers announced their plans to closestoresin the last week, Abercrombie & Fitch has gone the other route,making public its plans to launch an underwear line called GillyHicks. Management of the New Albany, OH-based company hadpreviously called the brand "Concept 5," as it is the retailer'sfifth chain.Gilly Hicks already has a steamy website (WARNING: It does containsome nudity), which doesn't surprise us, as Abercrombie is knownfor its controversialmarketing campaigns. The new chain's name is supposed to havesomething to do with Sydney, Australia.Abercrombie CFO Michael Kramer made no apologies for thecompany's racy advertising, speaking yesterday at the Needham &Co. Annual Growth Conference, in San Jose, CA. "We push the edgewith regards to sexuality," he said.The first store is set to openat General Growth Property's Natick (MA) Collection onJan. 21. And it looks as though Abercrombie is also doing somehiringat other locations.Until the first store opens it is hard to tellexactly what Gilly Hicks is about. But we think it will probablycompete with the Victoria's Secret Pink concept, or maybe American Apparel.Do you have anyinsight or thoughts about his new chain?