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.