American Eagle Outfitters to open stores in Hong Kong and China
American Eagle Outfitters Inc. (NYSE:AEO) announced plans to open retail stores in Hong Kong and China and that it has signed an exclusive franchise agreement with international retail group Dickson Concepts (International) Ltd, which operates more than 400 stores throughout Asia.
The groups plan to open a series of stores over the next several years. The first three are planned for early 2011 in Hong Kong, Beijing and Shanghai. American Eagle Outfitters introduced its brand in the Middle East in March of this year with stores in Dubai and Kuwait.
American Eagle Outfitters chief executive Jim O'Donnell said: "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."
"Dickson's tremendous experience with some of the most prestigious and valuable brands in the world makes them the ideal partner for this region."
The American Eagle stores in China and Hong Kong will offer the complete AE seasonal assortments, as well as intimates and dormwear lines from aerie by American Eagle. American Eagle Outfitters will provide merchandising and marketing input, while Dickson Concepts will handle all operational functions.
American Eagle Outfitters operates more than 1000 stores worldwide, and through its e-commerce business, ships merchandise to 76 countries.
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