NEW YORK – Chico’s FAS Inc. said today that it acquired 11 of the 14 stores of the Fitigues high-end specialty chain for an undisclosed amount of money. The retailer said it will operate the chain as a “new branded division of Chico’s.”
Scott A. Edmonds, president and chief executive officer of Chico’s, said in a statement that he has known Fitigues’ founders, “Steve and Andi Rosenstein, for many years now and believe that their merchandise philosophy is very complimentary to that of Chico’s. We believe this brand appeals to an affluent customer, similar in age and income to our White House | Black Market customer, but in a more luxurious casual way. By bringing Fitigues under the Chico’s umbrella, we can provide the necessary capital, back office operations assistance, and leverage needed to successfully expand this brand across America over the next several years.”