Gap lands in Mexico, Colombia and Uruguay
After Gap Inc. announced its plans for Latin America earlier this year, the company is taking significant strides in opening its first mono-brand store in Mexico. The launch coincides with preparations for store openings in Colombia and Uruguay.
Gap was previously only distributed through a franchise agreement in its own corners in Liverpool Department stores in Mexico. Gap developed its stand-alone store in partnership with Distribuidora Liverpool, which will be located in the middle of the new Interlomas Mall, located in the western suburbs of Mexico City. This opening is set to be the first of a number of openings to take place in Mexico by the end of the year.
This announcement comes at the same time as Gap's strengthening of its partnership with Superior International, the American group's partner for the launch of its first store in Panama, which is viewed as a test for the entire Latin American market. Gap Inc. will rely on the same company for the opening of its two stores in Colombia in Bogota and Medellin. Gap also says that its first store in Uruguay is scheduled to open by the end of the year, in partnership with Neutral Duty Free.
"Latin America hosts some of the fastest growing retail markets in the world with extremely high brand recognition for both Gap and Banana Republic," said Stefan Laban, managing director of strategic alliances for Gap Inc. "This, combined with the tremendous response to the launch of Gap and Banana Republic in Chile and Panama, makes us confident there is significant opportunity for our brands in Uruguay, as well as other countries in the region."
Coming out of a disastrous year 2011 in which operating profit fell by 27%, the Gap group confirms its intention to use Latin America as a growth driver. Gap Inc. is also looking at Africa as a means of expansion, opening two stores in South Africa in March in Cape Town and Johannesburg.
Copyright © 2022 FashionNetwork.com All rights reserved.