SHANGHAI, CHINA-A year after its announcement, Gap Inc. is opening its first Gap store in China here today. The 12,000-square-foot store will be joined by three more stores, here and in Beijing, opening this month.
The store that opened today is in Hong Kong Plaza on Mid Huaihai Road. A second store will open here in the Venture Tech building on the Nanjing West Road in the next few weeks. The two other stores will open in Beijing, one in the APM building on Wanfujing Street and the other in Chaobei Joy City, on Friday.
“Gap is the first American retailer in China to offer a single style destination for the entire family,” said Redmond Yeung, president of Gap China, in a statement. “We are excited to introduce Gap’s cool, modern American designs to Chinese consumers. I believe customers will be extremely pleased with fit, quality and the affordable style of our clothes.”
The company’s new stores here are part of a push into Asia, while also decreasing square footage by 10% by 2014 in North America. The company said it invested in extensive, multiyear market research, and this entry today in China marks the beginning of a long-term, multi-channel strategy that will eventually result in more stores throughout the country. The company also today launched a Chinese Web site for sales here.
The firm, with 2009 sales of $14.2 billion, has 3,1000 Gap, Banana Repulic, Old Navy, Piperlime and Athleta stores in the United States, Canada, the United Kingdom, France, Ireland, Japan and China, and has franchise agreements in Asia, Australia, Europe, Latin America and the Middle East.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.