Home / Knowledge / News / Apparel/Garments / Clothing retailer Gap opens first store in Panamá

Clothing retailer Gap opens first store in Panamá

01
Mar '12
Continuing to execute on its international growth strategy, Gap Inc announced its further expansion in Latin America. Leveraging its franchise model, the company has opened its first stores in Panamá and plans to introduce its brands to three additional Latin American countries: Colombia, Uruguay, and Peru.

As part of its existing agreement with Superior Retail Inc. Gap Inc. has opened two stores - a Gap and Banana Republic - side by side, in the Albrook Mall in Panamá City – the largest mall in Panamá. The stores will house products from the U.S. collections for Gap, GapKids and babyGap and Banana Republic's affordable luxury apparel and accessories for men and women. The assortment for each brand will be customized seasonally to best suit the needs of Panamá customers and local climate.

“With a high rate of tourism and a rapidly growing demand for international retail brands, Panamá provides an ideal environment in which to introduce Gap and Banana Republic,” said Stefan Laban, managing director of strategic alliances for Gap Inc. “At the crossroads of the Americas – serving as a bridge for business and travel between North, South, and Central America - Panamá also represents an important gateway for the future expansion of our brands in the region.”

Opening on the heels of the successful launch of the first Gap stores in South America in Chile last year, the Panamá City stores signify the first of several steps the company plans to take to continue to grow its footprint in Latin America over the next two years:

• The company expects to open three additional stores in Panamá in 2012– two Gap and one Banana Republic - as part of its agreement with Superior Retail Inc.
• Also via its agreement with Superior, Gap Inc. expects to open its first stores in Colombia in Bogota and Medellin later this year.
• Through an existing agreement with Komax, Gap Inc. plans to expand its presence in Chile in 2012, opening its first Banana Republic store this summer and two additional Gap stores later this year.
• Gap Inc. has signed a new agreement with a subsidiary of Neutral to bring Gap to Uruguay in 2012.
• The company has also signed an agreement with a subsidiary of Komax to bring Gap to Peru in 2013.

“Latin America hosts some of the fastest growing retail markets in the world with extremely high brand recognition for both Gap and Banana Republic,” said Laban. “This, combined with the tremendous response to the launch of Gap in Chile, makes us confident there is significant opportunity for our brands in Colombia, Peru, and Uruguay, as well as other countries in the region.”

In 2010, Gap Inc. first made its products available to consumers online in Panamá, Colombia, Uruguay, Chile, and Peru along with several other Latin American countries through its international shipping provider

Gap Inc


Must ReadView All

Pic: Shutterstock

Textiles | On 17th Feb 2020

Vietnam textile firms urged to source from Malaysia, India

Pham Xuan Hong, president of Ho Chi Minh City’s textile association,...

Pic: Shutterstock

Textiles | On 17th Feb 2020

Myanmar to initiate measures to improve trade strategies

Myanmar will take measures to raise overseas demand for indigenous...

Pic: PaCT

Apparel/Garments | On 17th Feb 2020

IFC portal to monitor resource usage in Bangla RMG sector

The International Finance Corporation (IFC) has developed PaCT...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Angelina Francesca Cheang, MY ANJE

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Top executives, Indian retail players

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Karan Behal,

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Mirella Sardini,

Mirella Sardini

A leading manufacturer of automated machinery and equipment for the...

Alon Moshe,

Alon Moshe

Israel-based Twine Solutions is a technology start-up that has developed a ...

Melissa Tate, University of New South Wales

Melissa Tate
University of New South Wales

<div><div><div><div><b>Melissa Tate</b>, a well-known scientist currently...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Daniel Odermatt, Ventile

Daniel Odermatt
Ventile

Ventile is a registered trademark used to brand a special high-quality...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Priya Somaiya, Usha Social Services

Priya Somaiya
Usha Social Services

The Usha Silai label from Usha International is all set for a retail...

Nisha Chanda, Whistling Woods International School of Fashion

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


February 2020

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search