Gap to open first Banana Republic store in France
NEW YORK (AP) — Gap Inc. plans to open its first Banana Republic store in France in early December, just in time for the critical holiday season.
The clothing company, whose other brands include Old Navy and its namesake, said Monday that the store will be in Paris on the popular Avenue des Champs Elysees.
The struggling retailer said the store is part of its international growth strategy.
"With loyal customers across Europe, both in our stores and online, we are confident that Banana Republic's proposition of affordable luxury will resonate well with Parisian customers," Stephen Sunnucks, president of Gap's international division, said in a statement.
Gap created a Banana Republic web site last year that was dedicated to its European customers — www.bananarepublic.eu . It serves 21 European countries.
Last week, Gap announced that it planned to open stores in Vietnam and Guam.
Gap will open one of its namesake stores in Vietnam in October. A Banana Republic store will open there late next year. The stores will open in Ho Chi Minh City as part of a franchise deal with Imex Pan Pacific, with additional stores set for Hanoi in 2012.
The first two Gap stores will open in January in Guam, under an existing franchise agreement with Casual Clothing Specialist Inc.
Gap, which is based in San Francisco, currently runs more than 600 Banana Republic stores in the U.S, U.K., Canada, Italy and Japan. The San Francisco company has about 3,100 company-run stores and approximately 200 franchise stores.
Its stock rose 24 cents to $16.52 in morning trading Monday.
The clothing company, whose other brands include Old Navy and its namesake, said Monday that the store will be in Paris on the popular Avenue des Champs Elysees.
The struggling retailer said the store is part of its international growth strategy.
"With loyal customers across Europe, both in our stores and online, we are confident that Banana Republic's proposition of affordable luxury will resonate well with Parisian customers," Stephen Sunnucks, president of Gap's international division, said in a statement.
Gap created a Banana Republic web site last year that was dedicated to its European customers — www.bananarepublic.eu . It serves 21 European countries.
Last week, Gap announced that it planned to open stores in Vietnam and Guam.
Gap will open one of its namesake stores in Vietnam in October. A Banana Republic store will open there late next year. The stores will open in Ho Chi Minh City as part of a franchise deal with Imex Pan Pacific, with additional stores set for Hanoi in 2012.
The first two Gap stores will open in January in Guam, under an existing franchise agreement with Casual Clothing Specialist Inc.
Gap, which is based in San Francisco, currently runs more than 600 Banana Republic stores in the U.S, U.K., Canada, Italy and Japan. The San Francisco company has about 3,100 company-run stores and approximately 200 franchise stores.
Its stock rose 24 cents to $16.52 in morning trading Monday.
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