PERU: Gap announces Latin American expansion plans
Clothing retailer Gap Inc is expanding in Latin America, opening its first stores in Panama and launching the brand in Colombia, Uruguay and Peru.
In Panama, the company has opened Gap and Banana Republic stores through a franchise agreement with Superior Retail. The stores will use the US collections, but be customised seasonally to suit local customers.
"With a high rate of tourism and a rapidly growing demand for international retail brands, Panamá provides an ideal environment in which to introduce Gap and Banana Republic," said Stefan Laban, managing director of strategic alliances for Gap Inc.
"At the crossroads of the Americas - serving as a bridge for business and travel between North, South, and Central America - Panamá also represents an important gateway for the future expansion of our brands in the region."
The company will open two further Gap and one Banana Republic store with Superior Retail. It also plans to open stores in Colombia in Bogota and Medellin later this year.
Gap will expand its presence in Chile during 2012, with its first Banana Republic store in the summer and two more Gap stores later this year, through an existing agreement with Komax.
It has also signed a new deal with a subsidiary of Neutral to bring Gap to Uruguay in 2012, and a subsidiary of Komax to take Gap to Peru in 2013.
"Latin America hosts some of the fastest growing retail markets in the world with extremely high brand recognition for both Gap and Banana Republic," said Laban.
"This, combined with the tremendous response to the launch of Gap in Chile, makes us confident there is significant opportunity for our brands in Colombia, Peru, and Uruguay, as well as other countries in the region."
A broadly positive second quarter's trading, with net profit up 29%, has led fashion retailer Gap to raise its full-year guidance, now predicting earnings per share of US$1.95-2.00....
Lured by warm weather and promotions to clear summer merchandise, US shoppers hit the stores in July giving an overall boost to many apparel retailers - but the results shed little light on back-to-sc...
The following is a general roundup of US apparel and shoe retailers' July 2012 sales results....
Featured reports from just-style's research store this week include the prospects for India's texile and clothing industry, a look at footwear in Malaysia and SWOT analyses on Billabong and Gap Inc....
The Brandix Group is to extend fashion retailer Gap's PACE (Personal and Career Enhancement) programme to its female garment workers in Sri Lanka....
High end home-furnishings retailer Restoration Hardware is to expand into apparel, accessories, footwear and jewellery as part of reorganisation plans aimed at setting the business up for future growt...
Fashion retail giant Gap Inc has posted a 29% surge in second quarter net profit, driven by across-the-board comparable store sales increases for its main brands....
Banana Republic has said that designer Narciso Rodriguez will join the brand in an advisory role....
- M&S to launch supply chain human rights policy
- Nike reaffirms US production commitment
- VF pushes ahead on chemicals management
- M&S project benefits garment worker health
- Can the Gap brand reclaim its iconic status?
- Myanmar minimum wage set at US$3.2 per day
- China cotton stockpile auction may shake up market
- Far Eastern to invest $323m in Vietnam textile hub
- C&A to add "accurate fit" label to garments
- US retail landscape "mediocre" over next 5 years