NEW YORK, April 18, 2014 /PRNewswire/ -- EXPRESS, Inc. (NYSE: EXPR) today announces the opening of its first factory outlet store at the Tanger Outlets National Harbor in Washington, D.C. The U.S. specialty retail apparel chain offering dual-gender fashion for going-out, casual and work, plans to open approximately thirty additional factory outlet locations throughout the U.S. in 2014.
"We are particularly excited about our outlet initiative which represents a new format for EXPRESS," said Michael Weiss, the chairman and chief executive officer of EXPRESS. "I'm very optimistic about this new part of our business and the associated growth potential."
The factory outlet concept supports the retailer's growth strategy of becoming more accessible to the twenty-something, fashion-conscious, yet price-sensitive customer. Recognizing the opportunity to capitalize on the ever-growing outlet business and capture a new customer base, EXPRESS plans to open stores at outlet destinations throughout the country in top markets including Chicago, Dallas, Detroit, Las Vegas, New York and more.
"Factory outlets are an important growth initiative for EXPRESS, offering us a unique opportunity to acquire new customers by offering great fashion and quality at an amazing value," said Andrew Buck, vice president and general manager of outlets for EXPRESS. "We are thrilled to present the EXPRESS Factory Outlet as an accessible shopping experience for young fashion-forward women and men."
Merchandised to reflect the brand's modern, sexy and cool style, the outlet stores will offer an assortment of both women's and men's apparel and fashion accessories. The outlet customer will now have the opportunity to shop the brand at factory-affordable prices.
Express is a specialty apparel and accessories retailer of women's and men's merchandise, targeting the 20 to 30 year old customer. The Company has over 30 years of experience offering a distinct combination of fashion and quality for multiple lifestyle occasions at an attractive value addressing fashion needs across work, casual, jeanswear, and going-out occasions. The Company currently operates approximately 630 retail stores, located primarily in high-traffic shopping malls, lifestyle centers, and street locations across the United States, in Canada, and in Puerto Rico. Express merchandise is also available at franchise stores in the Middle East and Latin America. The Company also markets and sells its products through the Company's e-commerce website, www.express.com.