American Eagle, Aerie step away from Carnaby plans
The highly anticipated physical arrival of American Eagle and Aerie
The major US fashion brands were due to mark their entry in the UK with debuts in London’s Carnaby shopping district in early December. However, plans have been ditched after the brands’ holding company AEO EU was forced to appoint liquidators in January.
The cancellation of the agreement came after the US owner of American Eagle terminated AEO EU’s licence following a delay in repaying a debt of $7.7 million (£5.9 million). AEO EU is understood to have blamed the Covid-19 pandemic for its problems.
Both
Announcing the initial debut plans last autumn, Nish Soneji, CEO American Eagle Europe/Aerie Europe, said: “As experts in bringing US fashion brands to the UK and Europe, we had to ensure the locations for American Eagle and Aerie’s first London stores not only resonate with London’s young and trend-savvy fashion consumers but would also make a dramatic impact for these game-changing brands.”
It will come as a big disappointment for the area’s property owner Shaftesbury after having successfully attracted a number of strong brands to the area since lockdowns ended last May.
Samantha Bain
American Eagle last traded in the UK in 2017 but closed three stores at Westfield
