Arvind arm ties up with Gap, to open 40 franchise-run stores
23 Aug 2014 12:04 AM GMT
‘We have tied up with Gap to bring the iconic American retailer to India. The first stores are expected to open in Mumbai and Delhi — starting with Gap's Summer 2015 collection for adults, kids and babies.
‘Arvind plans to open about 40 franchise-operated Gap stores in India at an estimated cost of around Rs 10 crore each,’ Arvind Chairman & Managing Director Sanjay Lalbhai told reporters here. ‘We have a long and successful association with Gap as their vendor partner. Now we extend this partnership to retail and bring Gap stores to India. We see the addition of Gap in our portfolio as a significant step to becoming the leading apparel retailer in India,’ Lalbhai said.
‘Gap has a huge recall in India and is a favourite of many Bollywood stars in movies. Our goal is to leverage this huge awareness, to quickly scale up and build a large business for Gap Franchise in India,’ Arvind Lifestyle Brands MD & CEO J Suresh said.
Gap Inc is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Gap Inc has over 350 franchise stores along with over 3,100 company-owned stores and a presence in 90 countries.
‘India is an emerging, vibrant market and an important next step in our global expansion strategy. As the world's second most populous country with 1.2 billion people, India represents an important platform to bring US casual style to consumers around the world,’ Gap Global President Steve Sunnucks said.
Arvind has a portfolio of owned and licensed brands and retail formats. The company's own product brands include Flying Machine, Colt, Ruggers, Excalibur while its licensed product brands have big global names like Arrow, Gant, Izod, Elle, Cherokee and US Polo.
It has a JV in India with global major Tommy Hilfiger and retail brands like Megamart, The Arvind Store, Club America, Next and Debenhams.
‘Arvind plans to open about 40 franchise-operated Gap stores in India at an estimated cost of around Rs 10 crore each,’ Arvind Chairman & Managing Director Sanjay Lalbhai told reporters here. ‘We have a long and successful association with Gap as their vendor partner. Now we extend this partnership to retail and bring Gap stores to India. We see the addition of Gap in our portfolio as a significant step to becoming the leading apparel retailer in India,’ Lalbhai said.
‘Gap has a huge recall in India and is a favourite of many Bollywood stars in movies. Our goal is to leverage this huge awareness, to quickly scale up and build a large business for Gap Franchise in India,’ Arvind Lifestyle Brands MD & CEO J Suresh said.
Gap Inc is a leading global retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix brands. Gap Inc has over 350 franchise stores along with over 3,100 company-owned stores and a presence in 90 countries.
‘India is an emerging, vibrant market and an important next step in our global expansion strategy. As the world's second most populous country with 1.2 billion people, India represents an important platform to bring US casual style to consumers around the world,’ Gap Global President Steve Sunnucks said.
Arvind has a portfolio of owned and licensed brands and retail formats. The company's own product brands include Flying Machine, Colt, Ruggers, Excalibur while its licensed product brands have big global names like Arrow, Gant, Izod, Elle, Cherokee and US Polo.
It has a JV in India with global major Tommy Hilfiger and retail brands like Megamart, The Arvind Store, Club America, Next and Debenhams.
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