Gap Inc. signs franchise deal to expand store presence in Thailand
Gap Inc. announced recently that it has concluded an agreement with Armin Systems Limited to bring Gap stores to Thailand. Under the agreement with Armin, the first Gap stores in Thailand are expected to open in spring 2010, featuring clothing for adults, kids and babies.
“We’re pleased to expand in Southeast Asia with such a well-respected partner,” said Ron Young, senior vice president of international strategic alliances for Gap Inc. “Armin Systems Limited is an experienced retailer in Thailand with a deep understanding of the marketplace and we’re excited to join with them to offer the Gap brand to our customers in Thailand.”
According to the information provided, Gap Inc. has opened 100 Gap and 34 Banana Republic franchise stores in 17 countries together with its franchise partners. Furthermore, Gap Inc. has signed and announced agreements to open Gap and Banana Republic franchise stores in Bulgaria, Croatia, Cyprus, Romania, Egypt and Israel. (kbp)