Gap to open first Old Navy store in the Philippines
Franchising Old Navy stores is a key step in the company's international expansion as it works to grow its share of the global retail apparel market. Old Navy currently operates over 1,000 stores in the U.S., Canada and Japan and recently announced plans to open stores in China in the first half of 2014.
Gap Inc. will partner with Stores Specialists, Inc., which operates Gap brand and Banana Republic stores in-market, to open two Old Navy locations in the beginning of 2014 with plans to open additional stores by the end of the same fiscal year.
"With a steadily growing retail market, the Philippines represents a great opportunity for Old Navy and an important step in the brand's international expansion," said Sonia Syngal, Senior Vice President of Old Navy International.
Old Navy stores will feature the same store environment that the brand has become known for in the United States and will offer men's, women's, kid's and baby apparel and accessories. ■