Potentially providing 35 new locations in Mexico, The Children's Place -- North America’s largest pure-play children's specialty apparel retailer -- signed a franchise agreement with El Palacio de Hierro, the company announced Thursday.
"We are excited to be partnering with El Palacio de Hierro,” Jane Elfers, The Children's Place president and CEO, said. “They have a proven track record of operating successful brands in Mexico. We are making significant strides in our international franchise business, and we remain focused on providing great fashion and value for children around the world."
El Palacio di Heirro, founded in 1888, has become Mexico’s go-to indicator for style and trends in apparel and home goods. The enterprise sells merchandise through 13 stores -- eight of them in Mexico City -- including well-known name brands Burberry, CH Carolina Herrera, Tiffany & Co, H. Stern, and Christian Dior.
"For El Palacio de Hierro, having The Children's Place join us represents a very important opportunity to expand our offering to our clients,” Ernesto Izquierdo, El Palacio de Hierro’s commercial director, said. “We believe in the importance, quality and fashion aspect of the brand, and we are convinced that it will be a great hit for our Mexican consumers."
Based in New Jersey, The Children's Place runs over 1,000 stores in the U.S., Canada and Puerto Rico, an online store, and over 85 stores operated worldwide by franchise partners in 11 nations.
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