US-based Aeropostale, which is gearing up to open its 33rd physical store in India, aims for Rs. 500 crores retail business in the country by the year 2021.
Aeropostale is reportedly one of the fastest growing brands in Arvind Fashions’ basket since its inception in 2015.
Notably, it reported Rs. 100 crores business in FY 2017-18. The brand is further planning to add 12-15 new stores pan-India in fiscal 2018-19, to increase its sales.
“The retailer targets the highly underserved market for 15-25-year-olds with the right pricing and positioning,” stated Sumit Dhingra, COO – Heritage Brands Division at Arvind Fashions Ltd.
Furthermore, Aeropostale is now planning to add new offerings to intensify its business in India. Athleisure, denim and kids apparels too will be added to the retailer product portfolio.
Primarily, Aeropostale is an American speciality retailer of casual apparel and accessories.
It is pertinent to note that the brand filed for Chapter 11 bankruptcy in 2016 and closed 113 of its 739 US stores and all 41 in Canada. It exited bankruptcy in the same year after receiving a US $ 243 million bid from licensing company Authentic Brands Group, mall operators Simon Property Group and General Growth Properties, and capital-investment firms Gordon Brothers and Hilco.
Post-recovery, Aeropostale relaunched over 500 retail stores globally. Since then it has increased its focus on the flourishing Indian fashion retail market as well, to make the most of the opportunities available by catering to the young population of the country.
