(Filed Under Financial and General Interest News). Gap has announced plans to open franchise stores in Vietnam and Guam.
"These opening will mark yet another important step for the company as we accelerate our growth into international markets," stated Stefan Laban, Gap Inc.’s managing director of strategic alliances. "Vietnam’s rapidly growing economy and Guam’s well-developed tourism industry both provide ample opportunity to introduce Gap and Banana Republic brands to local consumers."
Gap Inc.’s partner in Vietnam is conglomerate Imex Pan Pacific, or IPP. IPP will open two Gap stores in Ho Chi Minh City in October 2011, followed by additional Gap locations in Hanoi as well as the opening of Banana Republic stores in 2012.
Gap Inc. has also partnered with Casual Clothing Specialist, Inc., or CCSI Group, to open two Gap stores in Guam by January 2012. CCSI Group manages Gap’s franchise locations in the Philippines.
The planned stores will offer products from Gap, GapKids, babyGap and Banana Republic’s signature men’s and women’s apparel and accessories. Gap now has franchise agreements with 32 countries and plans to open 400 franchise stores by 2014.
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