Aeropostale to Expand Into Asia
NEW YORK, March 8, 2011 /PRNewswire/ -- Aeropostale, Inc. (NYSE: ARO), a mall-based specialty retailer of casual and active apparel for young women and men, today announced that it has signed a licensing agreement with Montreal PTE Ltd., a joint venture between Apparel Group LLC and Jay Gee Melwani Group, to open approximately 25 stores across Singapore, Malaysia and Indonesia over the next five years. The first store is scheduled to open in Singapore later this year.
Thomas P. Johnson, Chief Executive Officer, stated, "We are thrilled to bring the Aeropostale brand to Asia. The Aeropostale brand is evolving into a powerful global brand, and we are excited to continue our international expansion. Additionally, we are very pleased to be working with both Apparel Group and Jay Gee Melwani Group who bring great expertise in understanding their markets, building brands and operating licensed stores."
Commenting on Aeropostale's launch in Singapore, Mr. Nilesh Ved, Chairman of Apparel Group LLC stated, "We are extremely delighted to extend our relationship to the Southeast Asian markets with Aeropostale after a successful launch in the Gulf regions. We want to continue our success story with the brand, extending into Southeast Asia. We are extremely proud of our partnership with Aeropostale, a company that has succeeded in the teen-apparel marketplace with its combination of great fashion at compelling prices."
Commenting on Aeropostale's launch in Singapore, Mr. R Dhinakaran, Managing Director of the Jay Gee Melwani Group, stated, "We are very happy to work with Aeropostale as a principal partner. It gives us great pleasure and excitement to introduce Aeropostale to Singapore. Singapore is one of the best windows to the East, and it is an important entry point for Aeropostale as it continues its successful journey into Asia. I am sure that the distinct identity of the Aeropostale brand, with its fashion-right assortment at terrific values, will appeal to teens, and enable the company to continue its successful international expansion."
About Aeropostale, Inc.
Aeropostale, Inc. is a mall-based, specialty retailer of casual apparel and accessories, principally targeting 14 to 17 year-old young women and men through its Aeropostale® stores and 7 to 12 year-old kids through its P.S. from Aeropostale™ stores. The Company provides customers with a focused selection of high-quality, active-oriented, fashion and fashion basic merchandise at compelling values. Aeropostale® maintains control over its proprietary brands by designing, sourcing, marketing and selling all of its own merchandise. Aeropostale® products can only be purchased in its Aeropostale stores and online at www.aeropostale.com. P.S. from Aeropostale™ products can be purchased in P.S. from Aeropostale™ stores and online at www.ps4u.com. The Company currently operates 906 Aeropostale stores in 49 states and Puerto Rico, 59 Aeropostale stores in Canada and 47 P.S. from Aeropostale stores in 13 states.
About Apparel Group LLC
Apparel Group LLC is a leading fashion and footwear retailer with over 580 stores and more than 50 international brands. Apparel Group operates stores in UAE, Kuwait, Qatar, Bahrain, Oman, Jordan, Saudi Arabia, India, Poland, Russia, Indonesia, Thailand, Singapore and Malaysia. The group's extensive portfolio of international brands includes: Aldo Shoes, Kenneth Cole, La Senza, Mango, Nine West, and Tommy Hilfiger, and Coldstone Creamery.
About Jay Gee Melwani Group
A privately-held company, Jay Gee Melwani Group represents and markets some of the leading international names in lifestyle and apparel. Headquartered in Singapore, the Jay Gee Melwani Group today has with representation in Dubai, India, Indonesia, Malaysia and Thailand, achieved through joint venture partners and associates. Having experienced successful growth over its long history, the group remains committed to innovation and quality, and dedicated to service and integrity, in a highly motivated, rewarding and caring corporate culture.
SPECIAL NOTE: THIS PRESS RELEASE AND ORAL STATEMENTS MADE FROM TIME TO TIME BY REPRESENTATIVES OF THE COMPANY CONTAIN CERTAIN "FORWARD-LOOKING STATEMENTS" CONCERNING EXPECTATIONS FOR SALES, STORE OPENINGS, GROSS MARGINS, EXPENSES, STRATEGIC DIRECTION AND EARNINGS. ACTUAL RESULTS MIGHT DIFFER MATERIALLY FROM THOSE PROJECTED IN THE FORWARD-LOOKING STATEMENTS. AMONG THE FACTORS THAT COULD CAUSE ACTUAL RESULTS TO MATERIALLY DIFFER INCLUDE, CHANGES IN THE COMPETITIVE MARKETPLACE, INCLUDING THE INTRODUCTION OF NEW PRODUCTS OR PRICING CHANGES BY OUR COMPETITORS, CHANGES IN THE ECONOMY AND OTHER EVENTS LEADING TO A REDUCTION IN DISCRETIONARY CONSUMER SPENDING; SEASONALITY; RISKS ASSOCIATED WITH CHANGES IN SOCIAL, POLITICAL, ECONOMIC AND OTHER CONDITIONS AND THE POSSIBLE ADVERSE IMPACT OF CHANGES IN IMPORT RESTRICTIONS; RISKS ASSOCIATED WITH UNCERTAINTY RELATING TO THE COMPANY'S ABILITY TO IMPLEMENT ITS GROWTH STRATEGIES, AS WELL AS THE OTHER RISK FACTORS SET FORTH IN THE COMPANY'S FORM 10-K AND QUARTERLY REPORTS ON FORM 10-Q, FILED WITH THE SECURITIES AND EXCHANGE COMMISSION. THE COMPANY UNDERTAKES NO OBLIGATION TO UPDATE OR REVISE ANY FORWARD-LOOKING STATEMENTS TO REFLECT SUBSEQUENT EVENTS
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SOURCE Aeropostale, Inc.