Gap Inc. Expands in Latin America with First Stores in Chile

Continuing with its international growth strategy, Gap Inc. GPS today announced its further expansion in Latin America. Leveraging its franchise model, the company plans to open its first stores in South America in Chile this month as well as introduce Gap and Banana Republic stores to Panama and Colombia in 2012. “We are thrilled to be opening our first stores in South America. Taking our brands to another continent reflects the success and flexibility of our franchise model, which allows us to quickly expand our reach to customers around the world,” said Stephen Sunnucks, President, International, Gap Inc. “We believe substantial opportunity exists in Latin America and our first stores in Chile, Panama and Colombia will allow us to establish a foundation for further growth in this region.”