SAN FRANCISCO Gap Inc. announced a franchise agreement to introduce Gap brand in South America. The first Gap store is expected to open in Santiago, Chile in the Parque Arauco mall in September 2011.
Gap Inc. has signed a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile.
“We are looking forward to offering Gap’s modern, cool American designs to customers in a retail sector that is strong, and has an exceptional demand for fashion,” said Stephen Sunnucks, president Gap Inc., Europe and strategic alliances. “Komax has impressed us with their local expertise in the market and proven track record of launching international brands to customers in Chile.”
The company projects that by fiscal 2013, international and online sales will account for more than a quarter of its total net sales.