BRAZIL: Gap to open first stores as early as next year
Specialty clothing retailer Gap Inc has revealed plans to open its first standalone stores in Brazil next autumn, as part of its ongoing global expansion strategy.
The retailer has signed an agreement with Tudo Bom Comércio to open the first two stores in Sao Paulo and Rio de Janerio next autumn. The stores will sell the Gap, GapKids and babyGap collections.
Gap previously offered its products solely through duty-free channels in Brazil, and says it plans to expand its store base in the country over the next five years.
"Brazil is a critical next step in our global expansion strategy and we are excited to introduce our store experience to customers," said Stefan Laban, managing director of strategic alliances at Gap.
"Given that Brazil is the fifth largest country in the world and the largest Latin American economy, we feel that this market provides us with an incredible growth opportunity."
Gap first expanded into Latin America in 2011 with stores in Santiago, Chile. The retailer has since opened stores in Uruguay, Panama, Colombia and Mexico.
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