American Eagle Outfitters Continues Global Expansion in South Korea, Singapore and Greece with New License Agreements
American Eagle Outfitters, Inc. (NYSE:AEO) continues its global expansion with new license agreements in South Korea with SK Networks Co., Ltd.; in Singapore with Trendz 360, Pte. Ltd.; and in Greece with Notos Com Holdings, S.A. Stores will begin opening in mid-2015. The addition of these key markets strengthens the company’s position across the EMEA and APAC regions and extends its reach to 28 countries worldwide, through a combination of international licensed and company owned and operated stores.
“As we continue to profitably scale our international growth, we are pleased to announce the addition of these important new markets. We look forward to bringing our casual American style and iconic American Eagle Outfitters jeans brand as well as Aerie intimates to new customers. Together with our licensed partners, we will offer the very best brand experience. Our partners bring vast knowledge in their respective markets, an expertise in building businesses and a strong passion for our brands,” said Simon Nankervis, Executive Vice President-Global Commercial Operations.
SK Networks Co., Ltd. brings vast retail fashion and brand experience coupled with a strong operational network. Store openings will begin in mid-2015, with several locations planned to open throughout the year.
Trendz 360, Pte. Ltd., an established distributor and retailer of international brands, plans to open the first store in mid-2015.
Notos Com Holdings, S.A. represents a number of renowned brands and has a large retail presence in Greece and other Eastern and Central European markets. The first store is scheduled to open in the fall of 2015.
American Eagle Outfitters currently has 111 licensed stores in 17 countries, including the United Arab Emirates, Kuwait, Russian Federation, Kingdom of Saudi Arabia, Lebanon, Jordan, Morocco, Egypt, Israel, Japan, Poland, the Philippines, Colombia, Panama, Thailand and Indonesia. The company currently expects to open approximately 40 licensed stores in fiscal 2015.
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(R) and Aerie(R) brands. The company operates more than 1,000 stores in the United States, Canada, Mexico, China, Hong Kong and the United Kingdom, and ships to 81 countries worldwide through its websites. American Eagle Outfitters and Aerie merchandise also is available at 111 international stores operated by licensees in 17 countries. For more information, please visit www.ae.com.
“Safe Harbor” Statement under the Private Securities Litigation Reform Act of 1995: This release contains forward-looking statements, which represent our expectations or beliefs concerning future events. All forward-looking statements made by the company involve material risks and uncertainties and are subject to change based on factors beyond the company’s control. Such factors include, but are not limited to, risk to the company’s international growth plans, as well as the risk that the company’s operating, financial and capital plans may not be achieved and the risks described in the Risk Factor Section of the company’s Form 10-K and Form 10-Q filed with the Securities and Exchange Commission. Accordingly, the company’s future performance and financial results may differ materially from those expressed or implied in any such forward-looking statements. The company does not undertake to publicly update or revise its forward-looking statements even if future changes make it clear that projected results expressed or implied will not be realized.
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