American Eagle Eyes New Retail Concept
Kinda' sounds like the old Banana Republic stores from long ago.
Teen specialty retailer American Eagle Outfitters today announced a new retail concept targeting a slightly older consumer than the typical 15-to 25-year-old who shops its stores. The new chain, called MARTIN + OSA, is aimed at the 25- to 40-year-old set. Five MARTIN + OSA stores are slated to launch at better shopping centers next fall."As we grow, we expect to expand into lifestyle centers and street locations," said Judy Meehan, American Eagle spokesperson. "We're not ready to talk about where the five stores will be, but they will be geographically dispersed across the country."
Meehan confirmed that the new MARTIN + OSA chain could grow within the next 10 years to include 300 stores and add an additional $1 billion in revenue to American Eagle's coffers.
The name MARTIN + OSA refers to Martin and Osa Johnson, adventure travelers who documented their travels from 1917-36 to remote areas of the world in film, photographs, books and lectures.
MARTIN + OSA will sell classic sportswear styles, including denim and active-outdoor looks by lead designers Charles and Michele Martin, formerly of Abercrombie & Fitch.
"MARTIN + OSA represents an important long-term growth opportunity for our company," said CEO Jim O'Donnell in a statement. American Eagle, which operates 78 stores in 50 states, has posted positive same-store sales for 21 consecutive months.
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