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Elbit to open first Gap store this fall
17
Feb '09
Expanding its worldwide network of franchise partners, Gap Inc announced an agreement with Elbit Trade & Retail Ltd. to bring Gap and Banana Republic stores to Israel. Under the franchise agreement with Elbit, the first Gap store in Israel will open this fall, featuring clothing for adults, kids and babies. Banana Republic, which will offer apparel for men and women, is expected to open in spring 2010.

“By signing this agreement, we're building upon the success we've seen in other countries in the Middle East and Mediterranean,” said Ron Young, senior vice president of international strategic alliances for Gap Inc. “We selected Elbit Trade & Retail for their extensive experience in real estate development and their strong track record of operating franchise stores for other retailers.”

Together with its franchise partners, Gap Inc has opened 89 Gap and 32 Banana Republic franchise stores in 14 countries around the world.

Gap franchise stores are open in Bahrain, Greece, Indonesia, Korea, Kuwait, Oman, Qatar, Malaysia, Russia, Saudi Arabia, Philippines, Singapore, Turkey and the United Arab Emirates. Banana Republic franchise stores have opened in Bahrain, Indonesia, South Korea, Kuwait, Oman, Qatar, Malaysia, Singapore, Philippines, Turkey and the United Arab Emirates. In addition, Gap Inc. has signed and announced agreements to open Gap and Banana Republic franchise stores in Bulgaria, Croatia, Cyprus, Romania, Egypt and Jordan.

Gap Inc

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