By  on November 18, 2010

Gap Inc., though still struggling in the U.S., keeps advancing its overseas expansion.

In September, the $14.5 billion retailer will open its first store in South America, in the Parque Arauco mall in Santiago, Chile. A franchise agreement has been signed with Komax, which has the exclusive rights to operate Gap brand stores in Chile. Komax purchases the merchandise from Gap and must adhere to Gap standards. Komax has franchise agreements with other well-known retailers, including The North Face, Brooks Brothers and Ralph Lauren.

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