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Arvind signs licensing agreement to bring Aeropostale to India

Reuters

REUTERS - Indian clothes manufacturer Arvind Ltd (ARVN.NS) said on Thursday one of its units had signed a licence agreement with Aeropostale Inc (ARO.N), making it the latest international fashion brand to plan a launch in the country.

Arvind said its subsidiary, Arvind Lifestyle, is expected to open 30 standalone stores and 25 shop-in-shops over the next three years, starting March 2016. The company will also launch an Aeropostale e-commerce site for the country.

In August, the textile major announced a similar licencing agreement with Gap Inc (GPS.N).

India has swiftly turned into a hot destination for fashion brands, with the likes of Hennes & Mauritz (H&M) (HMb.ST) and Gap both eyeing store openings or expansion in the country.

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New York-based Aeropostale is a teen apparel retailer that competes with Abercrombie & Fitch (ANF.N) and American Eagle Outfitters (AEO.N).

(Reporting by Nivedita Bhattacharjee in Mumbai; Editing by Sunil Nair)