Gap Expanding in Latin America

Gap Inc. (San Francisco) has announced it will be taking The Gap into Paraguay and Hungary this year and open Banana Republic’s first standalone store in Mexico.

The retailer said the Gap ventures will be through new agreements with existing franchise partners Neutral (in Paraguay) and Gottex Brands (in Hungary).

By the end of the year, the company said it expects to have a presence in eight Latin American countries – including Chile, Panama, Colombia, Mexico, Uruguay, Paraguay, Peru and Brazil – with expectations to add a brand presence in Costa Rica in the near future.

The Banana Republic store in Mexico will be run through an existing agreement with retail partner Distribuidora Liverpool, S.A. DE C.V. Gap had previously offered Banana Republic-branded merchandise in franchised brand shops at Mexico’s Liverpool department stores.

Gap currently has over 300 franchise stores in 40 markets across the world, throughout Asia, Europe, Latin America, the Middle East and Australia.