The first Gap stores will open in each country by the end ofthis year, and the first Banana Republic stores are expected toopen in each country by spring 2008. All stores are expected to beopen by 2012.
Ron Young, senior vice president of international strategicalliances for Gap Inc., says that the company sees potential inboth of the countries because each has a "strong, steadily growingeconomy" combined with consumers who "have a great interest iniconic apparel brands such as ours."
Gap Inc. directly operates Gap brand stores in six countries andBanana Republic stores in three countries. Today's announcementfollows previously announced franchise agreements to open Gap andBanana Republic stores in Bahrain, Indonesia, Kuwait, Malaysia,Oman, Qatar, Singapore, South Korea and the United ArabEmirates.
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