American Eagle to open UK stores

American Eagle Outfitters in talks to open UK stores

American Eagle to open UK stores
American Eagle has more than 1,000 stores in the US

One of the biggest fashion retailers in the US, American Eagle Outfitters, is poised to arrive in the UK

The fashion chain is in talks to open a store at Westfield’s Stratford City shopping centre, as well as at its west London centre and Bluewater in Kent.

American Eagle, which is advised in the UK by property agent Harper Dennis Hobbs, will be the latest in a line of US fashion chains to cross the Atlantic.

Hollister, Urban Outfitters, Forever 21 and J Crew have all opened stores in the UK, confirming London’s position as the most popular destination for international retail brands.

American Eagle has more than 1,000 stores in the US and targets 15 to 25-year-olds with affordable fashion.

The company has filed documents at Companies House to create a UK subsidiary called American Eagle Outfitters UK Limited, paving the way for it to open stores.

However, US fashion retailers have a mixed record in the UK.

Forever 21 racked up a £66.5m pre-tax loss in the UK last year as it was forced to take impairment charges on the value of its assets.

The retailer has been hugely successful in the US as a youth fashion chain but faces competition in the UK from European heavyweights such as Zara and H&M as well as UK chain Topshop.

Forever 21’s accounts show that in the year to February 28, 2013 its revenues grew from £23m to £37.1m on the back of new store openings.

However, pre-tax losses grew from £7.6m to £66.5m because of a £44.5m writedown on the value of lease acquisitions and lease improvements.

Nonetheless, data from property agent CBRE claimed that London is the most popular city in the world for international retailers.

A total of 31 international retailers opened stores in London for the first time last year, including US fashion retailer J Crew and luxury brand Tom Ford.

This means that 57pc of international brands – almost three in five – have a presence in London.