Gap expands into Vietnam and Guam
24 August 2011 09:36
Gap Inc. has announced plans to open its first stores in Vietnam and Guam through its franchise channel. In Vietnam, the first Gap stores will open this October followed by the first Banana Republic store in 2012. The first Gap store will open in Guam in 2012.
"These openings will mark yet another important step for the company as we accelerate our growth into international markets," said Stefan Laban, managing director of strategic alliances for Gap Inc. "Vietnam's rapidly growing economy and Guam's well developed tourism industry both provide ample opportunity to introduce the Gap and Banana Republic brands to local consumers."
The stores will house products from Gap, GapKids and babyGap and Banana Republic's affordable luxury apparel and accessories for men and women.
Over the last five years, the company has grown its franchise store base to about 200 and expanded to 26 countries throughout Asia, Europe, Latin America, the Middle East, Australia and Africa.
With today's announcement, the company now has franchise agreements in place to bring its brands to 32 countries, including Chile, Serbia and Morocco in 2011.
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