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Last month, Gap Inc announced that it has further extended its worldwide network of franchisees by concluding an agreement with Elbit Trade & Retail Ltd. to bring Gap and Banana Republic stores to Israel. According to the information given, the first Gap store in Israel will open this fall, featuring clothing for adults, kids and babies. Banana Republic, which will offer apparel for men and women, is expected to open in spring 2010.
Ron Young, senior vice president of international strategic alliances for Gap Inc, commented: “By signing this agreement, we’re building upon the success we’ve seen in other countries in the Middle East and Mediterranean. We selected Elbit Trade & Retail for their extensive experience in real estate development and their strong track record of operating franchise stores for other retailers.â€