Franchise Agreement Signed with Filipino Retailer Suyen Corporation
PITTSBURGH--(BUSINESS WIRE)--Sep. 6, 2012--
American Eagle Outfitters, Inc. (NYSE:AEO) today announced plans to
further expand its international retail presence with a series of retail
stores throughout the Philippines. The company has signed a multi-year
retail license agreement with the Suyen Corporation, a leading retailer
and franchisee that operates approximately 744 various stores in the
Philippines, as well as 126 franchised stores in the country.
The agreement includes American Eagle Outfitters stores as well as shop
in shop Aerie stores. The first stores are slated to open in spring of
2013. American Eagle Outfitters opened stores in Israel as well as Japan
this year in addition to growing the Middle East business that launched
in 2010. At the close of 2012 American Eagle Outfitters will be
physically present in 13 countries and ship online to 77 countries
internationally.
The Suyen brands include Bench, the Philippines leading lifestyle and
clothing brand for men and women, as well as multiple other brands
ranging from beauty to lifestyle and even restaurants. Suyen also
operates franchise businesses for many popular international brands such
as Aldo, Mothercare and LaSenza.
“The Philippines is an important market for AEO to expand its
international presence,” says
Simon Nankervis
, VP – Global Business
Development “The country has a strong, growing economy, and the Filipino
customer has a desire of fashion brands and enthusiasm for iconic
American brands such as ours.”
“We’re pleased to have forged a relationship with a leading local
partner,” continued Mr. Nankervis. “As a Group they have exceptional
operational expertise and great knowledge of the local consumer base.
The Suyen Group of Companies has an excellent track record of running
successful vertical retail operations and launching fashion brands to
the market.”
About American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc. (NYSE: AEO) is a leading global
specialty retailer offering high-quality, on-trend clothing, accessories
and personal care products at affordable prices under its American Eagle
Outfitters® and Aerie® brands. The company operates more than 1,000
stores in North America, and ships to 77 countries worldwide through its
websites. American Eagle Outfitters and Aerie merchandise also is
available at approximately 40 international franchise stores in 13
countries. For more information, please visit www.ae.com.
Source: American Eagle Outfitters, Inc.
American Eagle Outfitters, Inc.
Kristen Zaccagnini, 412-432-3300