Gap, the US-based retailer, is assembling a team to spearhead the introduction of its chain of Banana Republic clothes stores to the UK. The company is believed to be eyeing a date in early 2008 for the European debut of the brand, which has over 500 stores in the North America and 13 in Japan, and annual sales of £2.3bn (£1.2bn).
Former New Look chief executive Stephen Sunnucks, who runs the group’s European division, is thought the be filling internal roles for the push. A Gap spokeswoman declined to comment, and would not be drawn on dates for a roll-out. She said: “We have always said that we see a lot of opportunities for Banana Republic in Europe ultimately.”Gap, which was founded by Don and Doris Fisher in San Francisco in 1969, is already expanding Banana Republic overseas. It has opened 13 stores in Japan since autumn 2005 and recently announced plans to open stores in Asia and the Middle East through franchise agreements with existing retailers.
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