Press release from Business Wire
American Eagle Outfitters Announces Plans to Open Retail Stores in Hong Kong and China
<p class=' bwtextaligncenter'> <b>Exclusive Franchise Agreement Signed with Leading International Retail Operator Dickson Concepts (International) Limited</b> </p>
Wednesday, June 09, 2010
American Eagle Outfitters Announces Plans to Open Retail Stores in Hong Kong and China09:00 EDT Wednesday, June 09, 2010 PITTSBURGH (Business Wire) -- American Eagle Outfitters, Inc. (NYSE:AEO) today announced plans to open retail stores in Hong Kong and China. The company has signed an exclusive franchise agreement with Dickson Concepts (International) Limited, a leading international retail company that operates more than 400 stores throughout Asia. Together, the companies 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. “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,” said Jim O'Donnell, chief executive officer, American Eagle Outfitters, Inc. “Dickson's tremendous experience with some of the most prestigious and valuable brands in the world makes them the ideal partner for this region.” Mr. Dickson Poon, Group Executive Chairman of Dickson Concepts (International) Limited, commented, “I am excited that Dickson Concepts has entered into this exclusive franchise agreement with American Eagle Outfitters. 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.” 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. About American Eagle Outfitters, Inc. American Eagle Outfitters, Inc., through its subsidiaries, (“AEO, Inc.”)offers high-quality, on-trend clothing, accessories and personal care products at affordable prices. The American Eagle Outfitters® brand targets 15 to 25 year old girls and guys, with 936 stores in the U.S. and Canada and online at www.ae.com. aerie® by american eagle offers Dormwear® and intimates collections for the AE® girl, with 143 standalone stores in the U.S. and Canada and online at www.aerie.com. The latest brand, 77kids by american eagle®, is available online only at www.77kids.com. The 77kids® brand offers “kid cool,” durable clothing and accessories for kids ages two to 10. AE.COM®, the online home of the brands of AEO, Inc., ships to 76 countries worldwide. About Dickson Concepts (International) Ltd. Dickson Concepts owns and operates over 400 shops throughout Asia and represents many of the world's leading international brands. It also owns 5 Seibu lifestyle stores in Hong Kong and China as well as the Harvey Nichols store in Hong Kong. Dickson Concepts also has a thriving wholesale business, distributing a very wide range of product categories.