Gap Inc. To Launch Brands In Russia

Franchise International:

Gap Inc., a USA based fashion retail chain, is set to open Gap and Banana Republic stores in Russia. Fiba Holding, a Turkish banking company, has bought the Gap Inc. Master Franchise rights for Russia and is due to open the first Gap store by the end of this year and the first Banana Republic outlet by the end of 2009. Fiba Holdings already franchises Gap and Banana Republic stores in Turkey.

Ron Young, Senior Vice President of international strategic alliances for Gap Inc., said: “With 80 franchise stores around the world, we’ve learned a great deal about how well our Gap and Banana Republic brands resonate. We’re very selective in choosing our franchising partners. It made perfect sense to expand our work with a strong existing partner to take our brands to the vibrant shopping areas in Russia.”