American Eagle Outfitters has revealed plans to expand its global retail presence through a series of licensed stores throughout Chile and Peru.

The company has signed a multi-year license agreement with Chile's Eurofashion Limitada, a division of the Cencosud Group, which specialises in developing national and international fashion brands.

The move will build on existing growth markets for American Eagle throughout the region, including Colombia, Panama and the Caribbean, as well as company-owned stores in Mexico.

The agreement includes American Eagle Outfitters stores, which will offer the American Eagle Outfitters and Aerie assortments. The first stores are expected to open in Chile in the third quarter of 2015 and in Peru in early 2016.

“We are excited to further expand our presence in South America, and we believe our heritage of casual American style will resonate strongly in these dynamic markets,” said Simon Nankervis, EVP of global commercial business. “We are pleased to partner with Eurofashion Limitada, which brings exceptional operational experience and a vast knowledge of the local consumer base.”

American Eagle Outfitters currently has 102 licensed stores in 17 countries. The company said it expects to open around 40 licensed stores in 2015.