Aditya Birla Fashion and Retail Ltd is getting denim and casual wear American Eagle to India and expects the brand to be among the top three in this market in 5-7 years. American Eagle is a $3.8-billion affordable premium denim and casual wear retailer from the US and it competes with brands such as Levis, Wrangler, and Pepe.
ABRL, formerly known as Madura Fashions, retails several international brands such as Forever 21, Ralph Lauren, Ted Baker, Simon Carter and Hackett London. American Eagle is the latest addition to the company’s international business division, that was established about two years ago to tap the growing demand for international brands among Indian youth.
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“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,” Radhakrishnan said adding that the 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.
He further added that India has the fastest growing youth market in the world with upwardly mobile consumers, who are driving demand for brands having international aesthetics and style. However, there seems to be a paucity of choices when it comes to jeans. With the entry of American Eagle, ABFRL aims to fulfil the gap and corner a significant share of the country’s premium jeans wear market.
In August 2017, Aditya Birla Fashion and Retail entered into a multi-store retail and e-commerce license agreement with American Eagle Outfitters Inc.
“India’s rapidly developing and vibrant economy, anchored by the world’s largest youth population, provides an exciting growth opportunity for our brand to expand our global reach,” commented Andrew McLean, EVP-Global Commercial Operations, American Eagle Outfitters.