Moving ahead with its plan of expanding global footprint, Chico’s FAS Inc. (CHS - Free Report) is set to introduce its namesake brand in Mexico City through a franchise deal with El Puerto de Liverpool, S.A.B. de C. V. (Liverpool).
Moreover, the company expects to open its first stand-alone namesake boutique at Perisur Mall within Liverpool department stores in spring this year. This will be followed by a second boutique in Villaharmosa, Tabasco. Furthermore, Liverpool will open six additional Chico’s boutiques within its department stores by the first half of 2014.
Founded in 1983, Chico’s brand began operating as a boutique and was engaged in selling Mexican folk and cotton sweaters. Currently, the brand exclusively designs private label clothing catering to women aged 30 years and above. As of Nov 2, 2013, Chico’s FAS operates 617 namesake boutiques and 108 outlets.
Chico’s FAS debuted in the overseas market last year by opening its White House Black Market (WH|BM) boutique store at Yorkdale Shopping Centre in Toronto, Canada on Oct 24. Subsequent to that, the company opened two more stores in the country.
Chico’s FAS’ WH|BM brand sells stylish and chic garments and accessories for women, including everyday basics, wear-to-work clothes as well as fashionable apparel, mostly in black and white and related shades with seasonal color splashes. Apart from this, the brand offers some signature collection that includes the Instantly Slimming, Perfect Form and WORKKIT, providing day-to-day wardrobe solutions for women.
WH|BM started operations in 1985 and was acquired by Chico’s in 2003. As of Nov 2, 2013, the company operated 434 WH|BM boutiques and 56 outlets.
Chico’s FAS is a women's specialty retailer of private branded, classy, casual-to-dressy outfits, intimates, complementary accessories and other non-clothing gift items. Going ahead, Chico’s intends to continue the implementation of other strategic initiatives that will help boost future growth. These include enhancement of omni-channel capabilities, expansion in Canada and the opening of stores.
At present, Chico’s has a Zacks Rank #3 (Hold). Stocks performing well among apparel/shoe retailers include Abercrombie & Fitch Co. (ANF - Free Report) , Finish Line Inc. (FINL - Free Report) and The Men’s Wearhouse, Inc . All of these carry a Zacks Rank #2 (Buy).