NEW YORK — With 11 months left on their contract, Chico’s founders Marvin and Helene Gralnick are devoting their time to developing the new Chico’s offshoot, called Pazo, according to Scott Edmonds, president of Chico’s.

In an overview of the company Wednesday at the Bear Stearns Retail, Restaurant and Apparel Conference here, Edmonds said Pazo will bow in March, with 10 openings in warmer climates, including Scottsdale, Memphis, Houston, Los Angeles, Atlanta and Boca Raton, Fla., and has formed product and field teams, separate from Chico’s. He described the Pazo merchandise as European-influenced casual, active, career and intimate apparel styles, with an average item price point of $40, though the range is from $14 to $118. The merchandise is geared for 25- to 35-year olds, whereas Chico’s targets Baby Boomers, has a median customer age of 53 and an average ticket price of $50. Pazo will be competing head-to-head with Express.

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