Gap Inc. Opens First Gap in Latin America in Santiago, Chile
Gap Inc., the largest U.S. clothing chain, opened its first Gap store in Latin America Friday with a store in Santiago Chile.
The store opening comes the same week the struggling retailer detailed plans to close 189 stores or 21 percent of its U.S. chain by 2013 while expanding globally, the Associated Press reported.
“Chile is a great match for Gap brand’s aesthetic and target customer. With a nearly $6 billion apparel & footwear market, a retail sector that makes up 9.4% of the country’s GDP, and a proven customer base interested in American style and brands, Chile represents a natural extension for our brands,” said Stefan Laban, managing director of strategic alliances for Gap Inc.
Chile’s first store is located in the Parque Arauco Mall in Santiago. A second store is scheduled to open in November in Conception at the Plaza Trebol Shopping Center.
The company plans to introduce Gap and Banana Republic stores to Panama and Colombia in 2012.
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