American Eagle exits the UK market
US giant American Eagle Outfitters has exited the UK market just three years after setting up store here.
According to City AM the retailer has closed its store in Kent's Bluewater shopping centre and is winding up operations in Westfield London and Westfield Stratford. A spokesman for the business said UK consumers would still be able to access its product online.
It is understood that the business, which is headquartered in Pittsburgh and specialises in casual wear and denim for men and women, was deterred by the increasingly competitive and expensive UK retail market. The brand arrived in the UK in 2014 and opened its three stores in the same year saying that it had plans to roll out between 20 and 30 stores in this market.
American Eagle was founded in 1977 by brothers Jerry and Mark Silverman. It is now floated on the NYSE and operates around 1,000 stores globally in the US, Canada, Mexico, China and Hong Kong. It also owns the Aerie intimates and swim brand.
Recently the brand was linked to a potential bid for fellow US young fashion retailer Abercrombie & Fitch, however the latter has since revealed that it has ceased all talks with potential bidders and will continue with its existing business strategy.
