NEARLY HALF A decade after its entrance into the Latin American market with an A&F shop in Puerto Rico, Abercrombie & Fitch Co. has now finalized agreements to bring its presence to flourish in the subregion with the realization of premium, well-represented retail points across the United Mexican States ("Mexico"). Despite having brokered a partnership with a separate retail company for Middle Eastern expansion, this particular business venture represents the first ever fully-fledged franchising arrangement for the Company; it has been signed with Mexico City-based Grupo Axo which boasts Emporio Armani, Etro, Marc by Marc Jacobs, Coach, Express, Victoria's Secret Beauty & Accessories, and Brooks Brothers among others in its portfolio. Having garnered industry headlines after the November 21 announcement, the development is of considerable interest and anticipation.
A highly valuable and exciting partnership, both parties were appropriately expressive on the significance and opportunities involved. "We are so excited to bring both the Abercrombie & Fitch and Hollister brands to Mexico," shared Grupo Axo's Corporate Vice President, Carlos Miranda, "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." Gillian Ferguson of Abercrombie & Fitch, Group Vice President of Strategic Planning, meanwhile furthered, "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."
Despite facing certain current sociopolitical issues, Mexico has been, regardless, proving to be a formidable, strengthening rising economy only projected by global analysts to be among the world's top five forces – along with, in projected order first to fourth, China, the United States, Brazil, and Japan – by the middle of the 21st century. A North American country, it holds long, strong cultural, historic, and economic ties to the United States and is the most fitting initial setting for a retail rollout to be then followed by Brazil sometime soon in South America.
Abercrombie & Fitch Co. looks forward to introducing the first Abercrombie & Fitch storefront in Mexico in the latter part of the summer season in 2015 (with the opening of the first Hollister store in the nation preceding it in the springtime). Among the cities the Company is opening doors includes Mexico City, Guadalajara, Cancún, and Playa Del Carmen.
This only involving the flagship Abercrombie & Fitch brand and the Hollister Co. division for now, the Company naturally did not include any possible outlook on when it could proceed have abercrombie kids in the region, too. We could perhaps expect a&f kids to be debuting in Mexico later this decade or in the 2020s. We'll see. It hasn't even entered Asia, yet.
We're all very much looking forward to the store setups! More deets coming soon...
Stay FIERCE!