The Gap Inc today (23 August) announced plans to open its first stores in Vietnam and Guam through franchises.

It said it will open its first Vietnam Gap stores in October, with the first Banana Republic outlet to open in 2012. The first Gap store will open in Guam in 2012.

"These openings will mark yet another important step for the company as we accelerate our growth into international markets," said Gap Inc managing director of strategic alliances Stefan Laban.

"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 Vietnam, Gap Inc has signed a franchise agreement with Imex Pan Pacific, one of the largest conglomerates in Vietham. It will open its first two Gap stores in Ho Chi Minh City, with additional locations in Hanoi in 2012. It will open its first Banana Republic store in late 2012.

In Guam, the retailer said it will open its first two stores in January 2012 stores as part of an existing franchise agreement with Casual Clothing Specialist. Casual Clothing Specialist also manages Gap Inc's franchise outlets in the Philippines.