Profile: Express, Inc. (EXPR.K)
1 Jun 2015
Express Inc. incorporated on June 10, 2008, is a specialty apparel and accessories retailer of women's and men's merchandise, targeting the 20 to 30 year old customer. The Company offers fashionable apparel and accessories to address fashion needs across aspects of their lifestyles, including work, casual, jeanswear, and going-out occasions. The Company’s stores are located in high-traffic shopping malls, lifestyle centers, and street locations, and average approximately 8,700 gross square feet. The Company also sells products through its e-commerce website, express.com, and has franchise agreements with franchisees operating Express stores in Latin America and the Middle East. The Company designs majority of the product assortment in the New York City design studio based on review and consideration of fashion trends, styles, fabrics, colors, fits, and prices.
The Company uses marketing vehicles to increase customer traffic and build brand loyalty including direct mail offers, e-mail communications, and in-store promotions. The Company investigates highly targeted marketing efforts, particularly those that employ social media, digital, and mobile tactics. The Company offers a private-label credit card through an agreement with World Financial Network National Bank (WFNNB) under which WFNNB owns the credit card accounts and Alliance Data Systems Corporation provides services to private-label credit card customers. The Company also has a tender-agnostic customer loyalty program, Express NEXT. The Company’s digital marketing efforts include the use of social media and mobile applications. The Company’s information technology systems provide business process support and information to the store, merchandising, financial, and real estate business teams. The Company utilizes a combination of customized and industry standard software systems to provide functions related to point-of-sale, inventory management, design, planning and allocation, and financial reporting.
The Company’s products are created by in-house design team and has developed a portfolio of products that have brand value, including the Editor pant and 1MX shirt. The Company designs products and display them in the stores and monitors cross-selling trends. The Company develops 4 seasonal collections per year and then subdivides them so that new products are introduced more frequently in the stores, providing on-going freshness to the existing merchandise assortment. The seasonal design process begins approximately 45 weeks in advance of store delivery with a collaborative planning effort among design, merchandising, manufacturing, planning and allocation, and finance departments. The Company purchases the majority of merchandise outside of the United States through arrangements with approximately 60 vendors utilizing approximately 345 foreign manufacturing facilities located in approximately 20 countries throughout the world, primarily in Asia and South and Central America. The top five countries, based on cost, from which the Company sources the merchandise are China, Indonesia, Vietnam, Sri Lanka, and the Philippines.
The Company’s 2013 net sales comprised of approximately 62% women's merchandise and approximately 38% men's merchandise. As of February 1, 2014, the Company operated 632 stores in 47 states across the United States, as well as in the District of Columbia, Puerto Rico, and Canada.
1 Express Dr
COLUMBUS OH 43230-1496