Gap Expanding in Asia Pacific

Gap Inc. (San Francisco) plans to open its first stores in Vietnam and Guam this fall 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.

“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,” says Stefan Laban, managing director of strategic alliances for Gap Inc.

The stores will carry products from Gap, GapKids and babyGap and Banana Republic’s affordable luxury apparel and accessories for men and women.

In Vietnam, Gap Inc. has signed a new franchise agreement with Imex Pan Pacific (IPP), one of the largest conglomerates. The first two Gap stores will be in Ho Chi Minh City, the largest city in Vietnam, followed by additional locations in Hanoi in 2012. Banana Republic will make its debut in late 2012.

As part of an existing franchise agreement with Casual Clothing Specialist, Inc. (CCSI), Gap will open its first two Gap stores in Guam in January 2012. CCSI Group also manages the company’s franchise locations for Gap and Banana Republic in the Philippines.

Over the last five years, Gap Inc. has grown its franchise store base to about 200 locations and 26 countries throughout Asia, Europe, Latin America, the Middle East, Australia and Africa. The retailer expects to double its franchise stores to 400 by fiscal year 2014.