According to the company, Gap Inc. plans to open its first stores in Vietnam and Guam through its franchise channel.
As part of an existing franchise agreement with Casual Clothing Specialist Inc. (CCSI), Gap Inc. will open two stores on Guam in January 2012.
CCSI is a leading retailer and commercial firm in the Philippines and Guam will be the second country to be managed under Gap’s agreement with CCSI.
CCSI manages the company’s franchise locations for Gap and Banana Republic in the Philippines.
“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.”
In addition to Gap, CCSI also offers clothing, accessories and personal-care products for men, women, children and babies under the Banana Republic, Old Navy, Piperlime and Athleta brands.
For Fiscal Year 2010, Gap Inc.’s net sales were $14.7 billion. Gap Inc. products are available for purchase in over 90 countries worldwide through about 3,100 company-operated stores, about 200 franchise stores and e-commerce sites.
