PHILADELPHIA, March 14, 2012 /PRNewswire/ -- Destination Maternity Corporation (Nasdaq: DEST), the world's leading maternity apparel retailer, today announced the expansion of its business in South Korea with the launch of a dedicated South Korean e-commerce site, www.destinationmaternity.co.kr. South Korean customers will now be able to shop online for A Pea in the Pod®, A Pea in the Pod Collection®, and Motherhood Maternity® brand maternity clothing and accessories. The site will be operated by Destination Maternity's South Korean franchise partner, Agabang & Company, and will provide a fast, easy shopping experience for customers with convenient local shipping.
With the launch of www.destinationmaternity.co.kr, South Korean moms-to-be will be able to find a whole world of stylish maternity wear online without leaving the comfort of their own home, or in person, through Destination Maternity's eleven total franchise locations in South Korea. Agabang currently operates two freestanding Destination Maternity stores and nine shop-in-shops located within its Nextmom and Agabang Gallery stores.
Ed Krell, Chief Executive Officer of Destination Maternity, commented, "We are very excited that Agabang & Company is expanding the reach of our maternity wear brands online in South Korea. The Destination Maternity South Korean website www.destinationmaternity.co.kr, in combination with our growing number of stores in the region, will provide expectant mothers with the opportunity to shop amazing fashions in whichever channel she prefers. This is a fantastic opportunity for both Agabang & Company and the moms-to-be in South Korea."
Under a multi-year franchise agreement, Destination Maternity has partnered with Agabang & Company to operate branded retail locations and market merchandise under the Company's Motherhood Maternity, A Pea in the Pod, and Destination Maternity brands in South Korea.
About Destination Maternity Corporation
Destination Maternity Corporation is the world's largest designer and retailer of maternity apparel. In the United States and Canada, as of December 31, 2011, Destination Maternity operates 2,061 retail locations, including 656 stores, predominantly under the tradenames Motherhood Maternity®, A Pea in the Pod®, and Destination Maternity®, and 1,405 leased department locations, and sells on the web through its DestinationMaternity.com and brand-specific websites. Destination Maternity also distributes its Oh Baby by Motherhood® collection through a licensed arrangement at over 1,100 Kohl's® stores throughout the United States and on Kohls.com. In addition, Destination Maternity is expanding internationally and has exclusive store franchise and product supply relationships in India, the Middle East and South Korea. As of December 31, 2011, Destination Maternity has 78 international franchised locations, including 63 shop-in-shop locations and 15 Destination Maternity branded stores.
About Agabang & Company
In 1979 Agabang & Company launched the first professional company in South Korea specializing in baby clothing and gear and is now the leading retailer of baby apparel and accessories in South Korea. In South Korea, as of January 31, 2012, Agabang has 22 Agabang owned and operated freestanding stores under the Agabang Gallery®, Baby House®, and Nextmom® brands, 326 franchised freestanding locations under the Agabang®, Ettoi®, Dear Baby®, Elle® and 2ya2aO® brands, and 457 owned or franchised shop-in-shops under its owned or licensed brands in retail stores such as Lotte®, Shinsegae®, Hyundai® and E-Mart®. Agabang also sells on the web through www.aganet.co.kr. In addition, as of January 31, 2012, Agabang & Company operates 56 franchised freestanding stores in China under the Agabang brand and 82 shop-in-shops within major department stores in China such as Parkson®, Isetan® and Jeonhwa®.
Destination Maternity Corporation (the "Company") cautions that any forward-looking statements (as such term is defined in the Private Securities Litigation Reform Act of 1995) contained in this press release or made from time to time by management of the Company, including those regarding international expansion and various business initiatives, involve risks and uncertainties, and are subject to change based on various important factors. The following factors, among others, in some cases have affected and in the future could affect the Company's financial performance and actual results and could cause actual results to differ materially from those expressed or implied in any such forward-looking statements: the continuation of the economic recovery of the retail industry in general and on apparel purchases in particular, our ability to successfully manage our various business initiatives, the success of our international business and its expansion, our ability to successfully manage and retain our leased department and licensed relationships and marketing partnerships, future sales trends in our existing store base, unusual weather patterns, changes in consumer preferences, raw material price increases, overall economic conditions and other factors affecting consumer confidence, demographics and other macroeconomic factors that may impact the level of spending for maternity apparel, expense savings initiatives, our ability to anticipate and respond to fashion trends and consumer preferences, anticipated fluctuations in our operating results, the impact of competition and fluctuations in the price, availability and quality of raw materials and contracted products, availability of suitable store locations, continued availability of capital and financing, our ability to hire and develop senior management and sales associates, our ability to develop and source merchandise, our ability to receive production from foreign sources on a timely basis, potential stock repurchases, potential debt prepayments, the continuation of the regular quarterly cash dividend, the trading liquidity of our common stock, changes in market interest rates, war or acts of terrorism and other factors set forth in the Company's periodic filings with the Securities and Exchange Commission, or in materials incorporated therein by reference.
SOURCE Destination Maternity Corporation