|ABERCROMBIE & FITCH ANNOUNCES ENTRY INTO MEXICO|
Abercrombie & Fitch & Grupo AXO sign franchise agreement
New Albany, OH and Mexico City, Mexico, [November 21, 2014] -- Abercrombie & Fitch Co. (NYSE: ANF) announced today that it has entered into a franchise agreement with Grupo AXO to establish a retail store presence in Mexico. The franchise arrangement, the first in the company's history, will encompass both the Abercrombie & Fitch and Hollister brands.
The first Hollister store is set to open in late spring 2015 and the first Abercrombie & Fitch store is expected to open in late summer 2015. The company anticipates a continuing rollout that will include stores in cities like Mexico City, Guadalajara, Cancun and Playa Del Carmen.
"We are so excited to bring both the Abercrombie & Fitch and Hollister brands to Mexico. These iconic brands will be well received by consumers and we look forward to continuing the brands' expansion throughout the country in the coming years," said Carlos Miranda, Corporate Vice President of Grupo AXO.
"This partnership is an important step for our company. We already have a customer base in Mexico and we are excited for them to experience our unique brands firsthand. Grupo AXO has established a great reputation for developing brands in the Mexican market, and we are delighted to be partnering with them," said Gillian Ferguson, Group Vice President of Strategic Planning for Abercrombie & Fitch.
About Abercrombie & Fitch
Abercrombie & Fitch Co. is a leading global specialty retailer of high-quality, casual apparel for Men, Women and kids with an active, youthful lifestyle under its Abercrombie & Fitch, abercrombie, Hollister Co. and Gilly Hicks brands. At the end of the third quarter, the Company operated 834 stores in the United States and 166 stores across Canada, Europe, Asia, Australia and the Middle East. The Company also operates e-commerce websites at www.abercrombie.com, www.abercrombiekids.com, www.hollisterco.com and www.gillyhicks.com.
About Grupo AXO
Grupo Axo was founded in 1994 as a result of an initiative to distribute and promote internationally renowned brands in the Mexican market. Grupo Axo is a strategic and commercial business partner for these brands. Present in the Mexican market for more than twenty years, its expertise comes from representing, distributing and operating these brands through a retail and wholesale strategy. As of 2014, Grupo Axo has more than 2,000 points of sale within the country's major department stores and over 200 free-standing stores. Grupo Axo represents Alejandra Quesada, Brooks Brothers, Brunello Cucinelli, Chaps, Coach, Crate and Barrel, Emporio Armani, Etro, Express, Guess, Kate Spade NY, Loft, Marc by Marc Jacobs, Rapsodia, Theory, Thomas Pink, Tommy Hilfiger and Victoria's Secret Beauty & Accessories. www.grupoaxo.com