Woman’s apparel merchant Chico’s FAS on Jan. 30 acquired most of the assets of fellow apparel merchant Fitigues. Fort Myers, FL-based Chico’s bought all of Scottsdale, AZ-based Fitigues’ 14 store locations, as well as its catalog and online businesses, for an undisclosed amount.
Chico’s spokesperson F. Michael Smith says that the company sees demographic similarities between Fitigues and its White House/Black Market retail chain, which Chico’s acquired in 2003. The average age of Fitigues shoppers is 44, while the White House/Black Market consumer has an average age of 42. Fitigues sells slightly higher-end merchandise, however.
Fitigues founders Steve and Andi Rosenstein will remain with the company, which will operate as a separate division.
With more than 760 stores nationwide, Chico’s had sales of nearly $1.07 billion in fiscal 2004.