(Image source from: ETRetail)
American Eagle Outfitters, a global denim and fashion company expects India will be its topmost three international markets in the following five years.
The United States-based specialty retailer ventured in the Indian market through an authorizing agreement with Aditya Birla Fashion and Retail Ltd., which was at one time known as Pantaloons Fashion & Retail.
Guillermo La Rosa, Vice-President, International and Business Development, American Eagle Outfitters, Inc told BusinessLine, "We believe that in the next five years India could emerge as the top three markets outside the U.S. for the company. We believe our entry to the Indian market, which has the fastest growing millennial population, is the right step for the brand."
The company's brand American Eagle is known for its on-trend clothing, jeans, accessories and personal care products and its core customers are largely millennials.
Currently, there are three standalone stores in Chandigarh and Delhi-NCR. The brand is likewise accessible on Myntra, besides its own website. "By February-March, we expect to have 6-9 standalone stores operational in the country. The long-term plan is to open 25 standalone stores in the next three years," he added. The company is looking at metros for enlargement.
"We have a robust plan for expansion in this market through our Indian partnership. But this expansion will be across the locations to ensure that the brand is built in the right manner. We want to create loyalty and true connection with the Indian consumers," Rosa said. The company may possibly as well look at having a presence through multi-brand stores hereafter.
Asked if the company is looking to bring its lingerie and intimate apparel sub-brand Aerie to India, Rosa said, "Aerie is going to be a big part of our expansion plan as we see huge opportunities for it globally. Our partners Aditya Birla Group has the rights for Aerie for the Indian market and when we find the right locations we will open Aerie stores in India with them."
By Sowmya
