Singapore is an attractive market for Gap because it is a shopping destination in Asia, and Malaysia is one of the fastest-growing markets for new malls, says Andrew Rolfe, president of Gap Inc. International, in a statement. Gap already has a presence in Japan, where it operates about 100 stores, and executives have said they are looking at China for future expansion.
FJ Benjamin executives are planning Gap's first flagship store in Singapore and first in Asia, outside of Japan, to open during this year's third quarter. The first Banana Republic to open in Singapore is scheduled for next year.
FJ Benjamin operates about 100 retail stores throughout Asia under names such as Guess?, La Senza and Valentino. Countries in which it has stores other than Malaysia and Singapore include China, Indonesia and the Philippines.
Domestically, Gap has been promoting its new Forth & Towne chain, which targets women over 35 years old. That concept currently has four stores in the Chicago area and one in West Nyack, NY. In all, Gap Inc. operates close to 2,700 US units, and about 450 in Canada, France, Japan and the United Kingdom.
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