The Children's Place Retail Stores Inc. (Secaucus, N.J.) announced plans to acquire 23 store leases from the Canadian children's wear retailer Au Coin des Petits/Young Canada. Twelve of these stores are in Quebec, 11 in Ontario.
The company will convert these locations into Children's Place stores, and has plans to reopen them in the third quarter this year, selling its brand name products. The retailer's expansion into the Canadian market is viewed as part of a growth strategy in its plan to develop an international presence.
“This strategic expansion into Canada is an excellent opportunity for the company to establish a strong position across our national borders,” says Ezra Dabah, chairman and ceo of The Children's Place.
The Children's Place Retail Stores Inc. currently operates 520 stores in 46 states, selling accessories and apparel for children, newborn to age 12, selling goods 20 to 30 percent less than comparable items at rival retailers.