Gap Expands into Russia

Gap Expands into Russia
June 02, 2008

San Francisco-based The Gap Inc. announced a new agreement with Istanbul, Turkey-based Fiba Holding A.S. to bring both the Gap and Banana Republic brands to Russia. Under the new agreement, the company will operate franchise stores in 17 countries. "We're very selective in choosing our franchising partners," said Ron Young, senior vice president of international strategic alliances for Gap. "It made perfect sense to expand our work with a strong existing partner to take our brands to the vibrant shopping areas in Russia." According to the company, its first Gap stores will open during the 2008 holiday season, while the first Banana Republic stores are scheduled to open for the 2009 holiday season. Gap operates 3,150 stores worldwide.

Produced by: Nielsen Business Media, a part of the Nielsen Company
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