American Eagle takes flight in South America

Specialty apparel retailer American Eagle had a solid fourth quarter and now is eyeing growth opportunities far from its home market by teaming up with leading South American retail conglomerate Cencosud.

American Eagle Outfitters announced plans to further expand its global retail presence with a series of licensed stores throughout Chile and Peru, building on existing growth markets throughout the region, including Colombia, Panama and the Caribbean, as well as company owned stores in Mexico. The company has signed a multi-year license agreement with Eurofashion Limitada, a leading Chilean company and division of the Cencosud S.A. Group specialized in developing national and international fashion brands.

The agreement includes American Eagle Outfitters stores, which will offer the American Eagle Outfitters and Aerie assortments. The first stores are expected to open in Chile in the third quarter of 2015 and in Peru in early 2016.

“We are excited to further expand our presence in South America, and we believe our heritage of casual American style will resonate strongly in these dynamic markets. We are pleased to partner with Eurofashion Limitada, which brings exceptional operational experience and a vast knowledge of the local consumer base,” says Simon Nankervis, EVP of global commercial business.

American Eagle Outfitters currently has 102 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 2015.