Aditya Birla Fashion and Retail is getting denim wear American Eagle to India, according to a report in Business Line.
With competitors such as Levis, Wrangler, and Pepe, Birla Fashion expects the brand to be among the top three in this market in 5-7 years.
American Eagle is a USD 3.8-billion affordable premium denim and casual wear retailer from the US.
The brand will add great value to the company’s international portfolio and strengthen the position in the youth centric lifestyle space, giving discerning customers a true taste of high-end fashion.
ABRL, formerly known as Madura Fashions, retails several international brands such as Forever 21, Ralph Lauren, Ted Baker, Simon Carter and Hackett London.
The company plans to open 25-30 standalone stores in the next 35 months across the top Indian metros. The company has opened the first outlet in Delhi and plans to focus on the top five metros as of now.
The company is also seeking to retail the merchandise through the brand’s exclusive website www.aeo.in, ABFRL’s President for International Business Sathyajit Radhakrishnan said to Business Line.
The brand would target both men and women in the age group of 15-28 years. The Jeans would be priced from Rs 2,499 to Rs 4,000.
The company is planning to partner with all leading e-commerce sites such as Myntra and Amazon to reach the young population in the smaller cities
“We (ABRL) are optimistic that American Eagle will be the top three denim brands in the next 5-7 years. By then, we will also have a substantial market share in the denim market too. Overall denim market (both branded and unbranded) is about Rs 9,000 crore approximately and is growing at a CAGR of 13-14 per cent.,” Radhakrishnan was quoted as saying.
In August 2017, ABFRL entered into a multi-store retail and e-commerce licence agreement with American Eagle Outfitters (AEO) Inc. and the brand has been rolled out according to this partnership agreement.
With the development, ABFRL aims to corner a significant share of the country’s premium jeans wear market.