(Filed Under Financial and General Interest News). Driven by the appetite for fashion in Asia, American Eagle is opening its first stores in China and Hong Kong through a franchise agreement with Dickson Concepts, an international retail company with 400 stores throughout Asia. This announcement comes on the heels of news that the company had entered the Middle East with stores in Dubai and Kuwait this March.
The companies plan to open several stores in the region in the coming year, with the first three planned for early 2011 in Hong Kong, Beijing and Shanghai. In addition to American Eagle apparel and fashion accessories, the stores will sell intimates and dormwear under the Aerie by American Eagle line.
According to Jim O’Donnell, chief executive officer of American Eagle Outfitters, Inc., the company is deepening its international presence based on demand. “There is significant appetite for the American Eagle Outfitters brand internationally, and we are excited to bring our high-quality, affordable fashion to customers in China and Hong Kong,” he said. “Dickson’s tremendous experience with some of the most prestigious and valuable brands in the world makes them the ideal partner for this region.”
“I am excited that Dickson Concepts has entered into this exclusive franchise agreement with American Eagle Outfitters,” Dickson Poon, group executive chairman of Dickson Concepts, said. “There is a burgeoning demand for trendy young fashion in Asia, and I am very confident that American Eagle Outfitters will achieve the same level of phenomenal success in Asia as in its home market of North America.”
Perhaps American Eagle is also looking internationally based on sales trends in the U.S., where the teen market has experienced weak performance throughout 2010.
American Eagle Outfitters, Inc. operates more than 1,000 stores worldwide and ships merchandise to 76 countries through its e-commerce site.
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