New Delhi, June 13 (IANS) Aditya Birla Fashion and Retail (ABFRL) on Wednesday said that it plans to open 25-30 stores of American Eagle Outfitters (AEO) brand in India.
The firm launched the international mid-to-premium deminwear brand in the country.
According to the company, the planned stores — 25-30 — will be opened in the next three years and that the brand will be positioned in the mid-to-premium segment.
“The brand is tragetted at customers aged between 15 and 27 years and this is a very big market size,” ABFRL’s President International Business Sathyajit Radhakrishnan told IANS over the phone from Bengaluru.
“We plan to open up 25-30 stores in India in the next three years with an average of one store a month for the next three year.”
However, the compny did not disclose its investment projections. But industry estimates place the investment required for setting up of a single standalone store at around Rs 1.5 crore.