PHILIPPINES: Gap to open first Old Navy franchise stores
Clothing giant Gap Inc is positioning itself for further growth in Asia after revealing it will open its first two franchise-operated Old Navy stores in the Philippines in March.
The stores will be two of five to open in the country this year and will be located in Manila. The three remaining stores will open in the second half of the year, also in Manila.
“This is an extremely exciting time for Old Navy,” said Robert Frank, EVP, Old Navy International. “With our recent entry into China and continued growth in Japan, the openings in the Philippines position us for further growth in Asia and beyond."
Gap Inc. Opens First-Ever Franchise-Operated Old Navy Stores First Franchise Stores to Open in Philippines, More Planned in 2014 March 18, 2014 02:00 PM Eastern Daylight Time SAN FRANCISCO--(BUSINESS WIRE)--Gap Inc. (NYSE: GPS) announced today its plans to open five franchise-operated Old Navy stores in the Philippines in 2014, an important pillar of the company's international growth strategy for the brand. The first two Old Navy stores will open in Manila in March and there are plans to open three more stores in the second half of the year for a total of five Old Navy stores in 2014.
"This is an extremely exciting time for Old Navy"
"This is an extremely exciting time for Old Navy," said Robert Frank, EVP, Old Navy International. "With our recent entry into China and continued growth in Japan, the openings in the Philippines position us for further growth in Asia and beyond."
"The Philippines is a natural fit for Old Navy as the country has a strong and growing economy, and consumers in the market are interested in iconic American apparel brands," said Blair Dunn, General Manager, Old Navy Franchise. "Through local partners we have immediate access to a deep understanding of the marketplace and consumer needs."
The first of two Old Navy stores, a dedicated three-story building, will open in the heart of Manila's fashion and shopping district, Bonifacio High Street, on March 22. The second store will open in the prominent Glorietta mall on March 29. Both stores will launch with the Old Navy Spring 2014 collection of the most current fashion essentials and accessories for men, women, children, baby and maternity in the same energizing store environment that made the brand famous.
The three additional Old Navy stores are targeted to open in the Manila area in the second half of this year in new and existing developments.
Old Navy is partnering with Stores Specialists, Inc. to open the stores, which already operates Gap brand and Banana Republic stores in the Philippines. "Local consumers are excited to welcome an iconic American brand like Old Navy and we're proud to help introduce the brand in our market," said Anthony Huang, Executive Vice President, Stores Specialists, Inc.
About Old Navy
Old Navy is a global apparel and accessories brand that makes current American fashion essentials accessible to every family. Originated in 1994, the brand has now grown to one of the largest apparel retailers in North America. A division of San Francisco-based Gap Inc. (NYSE: GPS), Old Navy brings a fun, energizing shopping environment to its customers in more than 1,000 stores in the U.S., Canada and Japan. For more information, please visit www.oldnavy.com.
About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Fiscal year 2013 net sales were $16.1 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through about 3,100 company-operated stores, over 350 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.
Original source: Gap Inc
The Gap, Inc. - Strategy and SWOT Report, is a source of comprehensive company data and information. The report covers the company’s structure, operation, SWOT analysis, product and service offerings ...
The Gap Inc has demonstrated that it understands the direction of the apparel market, and is using its digital platforms in conjunction with its physical stores to drive growth. The company has benefi...
The Gap is a US apparel specialist retailer which offers casual, mid-tier clothing. It continues to pursue a multi-tier price strategy, operating retail concepts (Banana Republic, Gap, Old Navy, Piper...
Gap Inc’s sales performance in 2012 highlights a successful turnaround is well underway. Innovative marketing combined with an omni-channel focus places the company well to regain lost market share. G...
- Low labour cost countries linked to highest risks
- UK reshoring hub hit by sweatshop claims
- New fibre and fabric innovations for outdoor wear
- Why should brands care about China cotton?
- COMMENT: Skills or new technology?
- South Africa to grow grass for recyclable textiles
- US West Coast port contract reached
- 30% of Adidas cotton from sustainable sources
- Activewear driving US apparel spend
- Benetton to embark on living wage roadmap
- Outdoor performance apparel: peaks, valleys, and green fields
- Global market review of swimwear - forecasts to 2019
- Myanmar's Garment Sector - Opportunities & Challenges in 2015
- Management briefing: Outlook 2015: Apparel industry issues in the year ahead
- Apparel Retail: Top 5 Emerging Markets Industry Guide