Aéropostale is refocusing its efforts and experiencing a revitalized push at retail.
Ohashi is also set to offer an unprecedented inside look at how ABG has revived the Aéropostale brand during his presentation "The Remaking of a Traditional Retailer: Aéropostale" at the NYC Summit: The Business of Brand Licensing, taking place Feb. 20. For more information, or to register for the event, visit NYCLicensingSummit.com.
Get your tickets now before they're all sold out!
|Ken Ohashi, executive vice president, lifestyle, ABG|
Although many brick-and-mortar retailers are struggling to adapt to a new era of retail realities, one chain is making a strong comeback–Aéropostale.
In May 2016, the teen retailer joined a rising number of mall-based chains (including QuikSilver, PacSun and Wet Seal) that were struggling to evolve with new consumer shopping habits, and filed for bankruptcy, shuttering more than 150 stores in an effort to optimize its retail footprint and achieve long-term financial stability.
However, in September of the same year, Aéropostale's story began to look up after it was purchased for $243.3 million by a business conglomerate that included Authentic Brands Group, General Growth Properties and Simon Property Group.
"The year we filed for bankruptcy, we were still generating more than $1 billion worth of sales in the U.S., so it was apparent that consumers were still voting for Aéropostale every day," says Ken Ohashi, executive vice president, lifestyle, ABG, who worked with the Aéropostale brand before it was acquired. "We never thought that the brand lost resonance with the consumer. Structurally, we knew that we had to really look at the business model, and that's one of the things that happened in 2016 when Authentic Brands Group, in conjunction with two of the largest landlords in the country, Simon Properties and General Growth Properties, bought Aéropostale."
Four months following the acquisition, ABG re-opened more than 500 Aéropostale retail locations, marking the beginning of a new growth trajectory.
Today, the teen retailer claims 516 U.S. stores in 45 states, as well as 427 international locations in 17 countries and 36 territories worldwide.