San Francisco — As part of its global expansion strategy, Gap Inc. plans to open its first Gap store in Egypt this month and its first Gap and Banana Republic stores in Morocco this October.
San Francisco — As part of its global expansion strategy, Gap Inc. plans to open its first Gap store in Egypt this month and its first Gap and Banana Republic stores in Morocco this October. These store openings will mark the company’s first entry into Africa and will house Gap, GapKids and babyGap collections and Banana Republic’s accessible luxury clothes and accessories for men and women.
Over the last 5 years, Gap Inc. has grown its franchise store base to more than 180 and expanded from two to 25 countries throughout Asia, Europe, Latin America, the Middle East and Australia. With today’s announcement, the company now has franchise agreements in place to bring its brands to 29 countries, including Chile and Serbia in fiscal year 2011. The company expects to double its franchise stores to 400 by fiscal year 2014.
As part of an existing franchise agreement with The Fawaz Al Hokair Group, Gap will open its first Egyptian store in the Mall of Arabia in the capital city of Cairo, Africa’s largest city. Two additional Gap stores will open at Cairo’s City Stars Mall and Sun City Mall this October.
The company has signed a new franchise agreement with the Aksal Group to open its first Gap and Banana Republic stores in Casablanca, Morocco. Both stores will be located in the city’s new Morocco Mall and will open at the same time as the mall’s grand opening this October.
Gap Inc. is a leading global specialty retailer under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands. Gap Inc. has about 3,100 company-operated stores, about 180 franchise stores, and e-commerce sites.
For more information, visit www.gapinc.com.