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Express, Inc.
Express, Inc. is an American fashion retailer whose portfolio includes Express, Bonobos and UpWest. It operates an omnichannel platform as well as physical and online stores.
Headquartered in Columbus, Ohio and trading on the OTC Pink under the symbol EXPR, it operates more than 500 stores in the United States, Puerto Rico, Mexico, Costa Rica, Panama, El Salvador and Guatemala.
Limited Brands, in 1980, opened the first Express store, as women's clothier "Limited Express" in Chicago's Water Tower Place. The store leaned heavily into the colorful trends of the 1980s as well as a faux French aesthetic. Former CEO Michael Weiss joined the brand in 1981 when the test expanded to include eight stores. The store dropped Limited from its name the following year.
By 1986, Express had 250 stores and began to transition away from neon lights, artificial fabrics, and bright colors. It started testing the sale of men's merchandise in 15 stores the following year. The men's fashion line was spun off into its own brand, Structure, in 1989. By 1991, Express had 600 stores and exceeded $1 billion in profit.
In 2001, Express became a dual gender brand with the reintegration of its Structure stores as "Express Men". Dual gender Express stores began opening the following year. Structure apparel brand was sold to Sears in 2003.
Express brought in $1.7 billion in net sales in 2006. In May 2007, Limited Brands announced its intent to sell a 67% stake in Express to an affiliate of a private equity firm called Golden Gate Capital Partners, based in San Francisco. When the sale was finalized in July 2007, Golden Gate's paid $484.9 million for a 75% stake in the company.
By January 2010, the company had 573 stores and generated $1.72 billion in net sales the year prior. The company held an IPO in May 2010, ultimately pricing its shares below the expected range. Soon after, Golden Gate and Limited Brands began divesting from the company. In July 2011, Limited Brands sold its remaining ownership interest. In March 2012, Golden Gate sold its remaining ownership interest.
By 2014, sales had been down over the previous two years. In June, Sycamore Partners announced it had acquired a 10% stake in Express, with the intention of buying the whole company. However, by January 2015, Sycamore had ended its pursuit.
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Express, Inc.
Express, Inc. is an American fashion retailer whose portfolio includes Express, Bonobos and UpWest. It operates an omnichannel platform as well as physical and online stores.
Headquartered in Columbus, Ohio and trading on the OTC Pink under the symbol EXPR, it operates more than 500 stores in the United States, Puerto Rico, Mexico, Costa Rica, Panama, El Salvador and Guatemala.
Limited Brands, in 1980, opened the first Express store, as women's clothier "Limited Express" in Chicago's Water Tower Place. The store leaned heavily into the colorful trends of the 1980s as well as a faux French aesthetic. Former CEO Michael Weiss joined the brand in 1981 when the test expanded to include eight stores. The store dropped Limited from its name the following year.
By 1986, Express had 250 stores and began to transition away from neon lights, artificial fabrics, and bright colors. It started testing the sale of men's merchandise in 15 stores the following year. The men's fashion line was spun off into its own brand, Structure, in 1989. By 1991, Express had 600 stores and exceeded $1 billion in profit.
In 2001, Express became a dual gender brand with the reintegration of its Structure stores as "Express Men". Dual gender Express stores began opening the following year. Structure apparel brand was sold to Sears in 2003.
Express brought in $1.7 billion in net sales in 2006. In May 2007, Limited Brands announced its intent to sell a 67% stake in Express to an affiliate of a private equity firm called Golden Gate Capital Partners, based in San Francisco. When the sale was finalized in July 2007, Golden Gate's paid $484.9 million for a 75% stake in the company.
By January 2010, the company had 573 stores and generated $1.72 billion in net sales the year prior. The company held an IPO in May 2010, ultimately pricing its shares below the expected range. Soon after, Golden Gate and Limited Brands began divesting from the company. In July 2011, Limited Brands sold its remaining ownership interest. In March 2012, Golden Gate sold its remaining ownership interest.
By 2014, sales had been down over the previous two years. In June, Sycamore Partners announced it had acquired a 10% stake in Express, with the intention of buying the whole company. However, by January 2015, Sycamore had ended its pursuit.