When American Eagle Outfitters launched in 1977, it was part of Silvermans Menswear, Inc., a retailing company whose flagship was the Silvermans chain, which sold young men's apparel and accessories and was founded in McKees Rocks, Pennsylvania (near Pittsburgh), in 1904. By mid-1991, American Eagle had grown to 153 stores-not nearly the expansion rate envisioned two years earlier—and sales had stagnated. For the fiscal year ending in July 1991, sales were $144.3 million, a minuscule increase over the $142.4 million of the previous year. Worse yet, the chain posted a net loss of $8.9 million for the year.
American Eagle Outfitters is a leading lifestyle retailer that designs, markets, and sells its own brand of relaxed, versatile clothing for 16- to 34-year-olds, providing high-quality merchandise at affordable prices. AE's lifestyle collection includes casual basics like khakis, cargo, and jeans; fashion tops like rugby, polos, and graphic T's; and functional items like swimwear, outerwear, footwear, and accessories.
If I was offered a position to work for this brand, my call to action would bring fashion to the future. The fashion industry is cashing in on the Metaverse, using the platform to reach new markets and promote its wares. In March this year, the world witnessed the first-ever Metaverse Fashion Week–four days of runway shows and panel discussions hosted in the 3D virtual world Decentraland. This hypothesis is most likely to prove true for Gen Z, millennials, and Gen X consumers who, within the next five years, are expected to spend as much as five hours a day in the Metaverse, according to a recent McKinsey management consultancy study. This may leave them little time to dress up and go out.
I believe that the terms "sustainability" and "diversity and inclusion" are true calls to action in corporate environments. Doing the right thing, continually innovating, and caring about the global community is foundational to AEO’s culture.
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