New Gap franchises in Mexico, Egypt and JordanTuesday, 23 September 2008
Gap Inc. announced new franchise agreements with local retailers to open stores in Mexico, Egypt and Jordan. In Mexico, Gap will open stores within stores at a Mexican department store chain through a partnership with Distribuidora Liverpool. Gap products will become available in spring 2009. "As the 10th largest apparel market in the world, Mexico is an important country for us as we expand our franchise presence to Latin America," said Ron Young, senior vice president of international strategic alliances for Gap Inc.
The company also announced franchise agreements for Gap and Banana Republic in Egypt and Jordan. Fawaz Alhokair Group will open the first Gap stores in Egypt and Jordan by the end of the year, and the first Banana Republic stores are to open 2009. The company has also announced franchise agreements to open stores in Bulgaria, Croatia, Cyprus, Romania and Russia over the next five years.
Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Japan and Ireland. Since 2006, Gap Inc. has been expanding its international presence with franchise agreements for Asia, Europe, and the Middle East, resulting in the opening of more than 70 Gap franchise stores and nearly 30 Banana Republic franchise stores. "Our franchise program continues to build momentum with 21 countries and 100 stores. Partnering with local experts in regions throughout the world has been extremely beneficial, allowing us to introduce our brands to new customers in relevant and exciting ways" Young said.