Livemint: July 02, 2015
Bengaluru: American casual fashion retailer Aéropostale, Inc. has inked a licensing agreement with Arvind Lifestyle Brands Ltd to open standalone stores in the country, the company said in a statement on Thursday.
Aéropostale, known for its casual and sporty clothing for teenagers and young adults, will open 30 stores and 25 shop-in-shop locations over the next three years, with a launch in March 2016. Arvind will also launch online sales of Aéropostale products in India.
The news was first reported by The Economic Times on Thursday.
“India is a truly exciting retail market, driven by its growing economy and vibrant youth culture,” said Julian R. Geiger, chief executive officer of Aéropostale.
“Aéropostale will be the first of its kind youth-focused retail format in India,” added J. Suresh, managing director and CEO of Arvind Lifestyle Brands, which recently launched American label Gap in the country.
News of Aéropostale’s expansion to India comes at a time when the retailer is struggling to boost sales in its home market. The brand reported 11 consecutive quarters of declining same-store sales growth, according to a June report by Bloomberg.
India’s bulging young demographic, said Suresh, will help the American label sell more clothing. “With 40% of India’s population below the age of 20, we expect Aéropostale to be hugely popular and successful,” he said.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.