The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Globe Investor

News Sources

Take control of your investments with the latest investing news and analysis

Press release from Business Wire

American Eagle Outfitters Announces Plans to Open Retail Stores in Japan as Part of Continued International Expansion

<p class='bwalignc'> <b>Sumikin Bussan Corporation Selected as Exclusive Franchise Partner</b> </p>

Tuesday, December 21, 2010

American Eagle Outfitters Announces Plans to Open Retail Stores in Japan as Part of Continued International Expansion09:00 EST Tuesday, December 21, 2010 PITTSBURGH (Business Wire) -- American Eagle Outfitters, Inc. (NYSE:AEO) today announced its plans for American Eagle Outfitters and Aerie by American Eagle stores in Japan, in partnership with Sumikin Bussan Corporation. The first store is slated to open in Tokyo's legendary Harajuku shopping district in the first half of 2012. AEO has signed an exclusive franchise agreement with Sumikin, a leading marketer, importer and exporter with extensive experience in the fashion industry, among other lines of business. Since opening its first stores outside North America in Dubai and Kuwait earlier this year, American Eagle Outfitters has been steadily pursuing its international strategy, with additional agreements for stores in China, Hong Kong, and Israel, as well as plans for other countries. “Japan is one of the most important international markets for retail and home to millions of fashion-conscious young people,” said Jim O'Donnell, chief executive officer, American Eagle Outfitters, Inc. “Sumikin Bussan Corporation is the ideal partner for this region, given their extensive experience, industry leadership, and commitment to creating lasting value for customers.” “There is tremendous opportunity for sportswear brands in Japan, both domestic and international,” said Gashun Amaya, president, Sumikin Bussan Corporation. “American Eagle Outfitters is increasingly popular among Japanese customers, who have experienced it in their travels to the U.S. and Canada, as well as online. We are very pleased to offer this brand to customers across Japan with the official launch of the flagship store at one of the most auspicious shopping destinations in the world.” The American Eagle Outfitters and Aerie by American Eagle stores in Japan will offer complete seasonal assortments as well as special product custom-designed with the Japanese customer in mind. As with its other franchise partnerships, American Eagle Outfitters will provide merchandising and marketing direction, while Sumikin will handle all operational functions. American Eagle Outfitters operates more than 1,000 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 937 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 147 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, as well as at nine stores across the nation. The 77kids® brand small sizes and great big style for kids 0-14. AE.COM®, the online home of the brands of AEO, Inc., ships to more than 76 countries worldwide. About Sumikin Bussan Corporation Sumikin Bussan Corporation is one of the leading trading companies in Japan with business segments ranging from steel, to restaurants to textiles and apparel. American Eagle Outfitters, Inc.Samantha Nelson, 412-432-4500nelsons@ae.comorSumikin Bussan CorporationHideki Yamauchi8-5-27, Akasaka,Minatoku, TOKYOyamauchih@gw.sumikinbussan.co.jp