Today, Gap Inc. GPS announced plans for the first stand-alone Gap
stores in Brazil as part of the company's continuing global expansion
strategy. Gap Inc. signed an agreement with Tudo Bom Comércio Ltda. for the
planned opening of the first stores in the fall of 2013.
Gap Inc. plans to expand its store base in the country over the next five
years, part of its strong platform of growth in the Brazilian retail market.
“Brazil is a critical next step in our global expansion strategy and we are
excited to introduce our store experience to customers,” said Stefan Laban,
Managing Director of Strategic Alliances, Gap Inc. “Given that Brazil is the
fifth largest country in the world and the largest Latin American economy, we
feel that this market provides us with an incredible growth opportunity.”
Previously, Gap offered its products solely through duty-free channels
throughout Brazil. The first Gap stores will open in Sao Paulo, the country's
largest city followed by Rio de Janerio. The stores will house Gap, GapKids
and babyGap collections.
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