American Eagle Outfitters Signs Middle East Agreement
22 Feb 2010 - American Eagle Outfitters is taking its first overseas flight to the Middle East.
The Warrendale, Pa.-based retailer, whose chairman and largest shareholder is Columbus retail magnate Jay Schottenstein, signed a deal with Kuwait-based M.H. Alshaya Co. to take the teen-targeting chain to the Middle East.
CEO Jim O’Donnell, in a conference call for stock analysts, said there are considerable opportunities in the Persian Gulf for the chain, which could have its first store open by early 2010.
Like other retailers, such as New Albany-based Abercrombie & Fitch Co., domestic growth has slowed, but international remains an expansion opportunity. But unlike Abercrombie & Fitch, American Eagle is using franchising to go overseas, which keeps capital investment lower.
Franchise Talk
