Gap is headed to Thailand for the first time via a licensing agreement with Armin Systems Ltd.
The retailer is intent on broadening its international presence. In the last few years, Gap has made franchise agreements in Asia, Europe, Latin America and the Middle East. There are 100 Gap and 34 Banana Republic franchise stores in 17 countries. In addition, Gap Inc. has signed and announced agreements to open Gap and Banana Republic franchise stores in six more countries.
“Armin Systems Ltd. is an experienced retailer in Thailand with a deep understanding of the marketplace,” said Ron Young, senior vice president of international strategic alliances for Gap Inc.
Armin already operates Esprit, Tumi, Timberland and other stores in Thailand.
The first Gap stores in Thailand are expected to open in spring 2010 and will sell clothing for adults, kids and babies. The agreement with Armin calls for five Gap stores in five years.
The $14.5 billion Gap Inc. operates more than 3,100 stores worldwide.
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