GAP Headed to Chile; will launch first store in South America
Chileans will get a few more clothing options next year because Gap announced a franchise agreement with Komax, for exclusive rights to operate Gap brand stores in Chile. The first Gap store is expected to open in Santiago, Chile in the Parque Arauco mall in September 2011 in the swanky Las Condes” section of Santiago. With today’s announcement, Gap Inc. now has franchise agreements in place for a total of 25 countries on six continents.
Gap Inc. will continue to enter new markets through company-owned and online channels. Gap Inc. recently opened its first wholly owned stores in China and later this month it will open its first store in Italy, according to Gap.
The company projects that by fiscal 2013, international and online sales will account for more than a quarter of its total net sales.
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