Press release from Business Wire
Israel is Latest Addition to American Eagle Outfitters' International Expansion Plans
<p class=' bwtextaligncenter'> <b>Franchise Agreement Signed with Israeli Retailer Fox-Wizel Ltd.</b> </p>
Wednesday, June 30, 2010
Israel is Latest Addition to American Eagle Outfitters' International Expansion Plans17:00 EDT Wednesday, June 30, 2010 PITTSBURGH (Business Wire) -- American Eagle Outfitters, Inc. (NYSE:AEO) today announced plans to further expand its international retail presence with a series of retail stores throughout Israel. The company has signed a multi-year franchise agreement with Fox-Wizel Ltd., a leading retailer and wholesaler that operates approximately 170 FOX stores in Israel, as well as 250 FOX stores internationally. The agreement includes American Eagle Outfitters flagship stores as well as freestanding aerie stores. The first stores are slated to open in spring of 2012. American Eagle Outfitters introduced its brand in the Middle East in March of this year with stores in Dubai and Kuwait, and recently announced plans for stores in Hong Kong and China beginning in early 2011. “International expansion is an important part of AEO's growth strategy,” said Chris Fiore, executive vice president for international, American Eagle Outfitters, Inc. “As with our other international locations, customers in Israel have embraced the American Eagle Outfitters and aerie brands through extensive travel in North America as well as online at ae.com. They are eager to shop our retail stores at home to complete the lifestyle experience,” he added. The FOX brands include FOX men's and women's apparel, FOX kids and baby, and a launch next month of FOX home. Fox-Wizel also owns substantial interest in the personal care retailer Laline, and the upscale apparel retail and wholesale brand Sacks. The model for the Israeli stores is similar to that of AEO's other international locations, where the partner handles local operational functions, with American Eagle Outfitters assuming creative approval for assortment, marketing and store locations. 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.