Gap is once again partnering with Store Specialists Inc., which already brough The Gap and Banana Republic brands to the Philippines.
The first two Old Navy stores in the country are slated to open in early 2014, with more expected to open later in the 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... Consumers have a great interest in the iconic American brand Old Navy, and we look forward to making current American fashion essentials accessible for every family," said Sonia Syngal, Senior Vice President of Old Navy International.
This year, Gap announced plans to start franchising Old Navy stores internationally, as it hopes to increase its share of the global retail apparel market.
"We’re thrilled to be the first franchisee for Old Navy and help introduce one of the largest apparel brands to consumers in the Philippines... As the country’s retail market continues to grow, we look forward to sharing our local expertise with Gap Inc. to help the company grow its presence,"said Anthony Huang, Executive Vice President, Stores Specialists, Inc.
Old Navy offers affordable men’s, women’s, kid’s and baby apparel and accessories. It currently operates over 1,000 stores in the U.S., Canada and Japan. The company is planning to open stores in China in the first half of 2014.
The Tantoco-led SSI is a wholly Filipino-owned corporation that has brought some of the biggest global brands to the Philippines such as Gucci, Cartier, Lacoste, Burberry, Marks & Spencer, Prada, Zara, The Gap, Banana Republic and Marc Jacobs.
source: www.abs-cbnnews.com
