Capital.gr:
Gap Inc. (GPS) announced an agreement which will bring its stores to Australia, making it the fourth continent in which the apparel retailer has franchise deals.
The announcement comes as Gap has been shrinking its global footprint after sharp store growth the past decade.
Gap’s franchising deal with Brand Republic Pty Ltd., a subsidiary of Busby Holdings Australia Pty Ltd., includes exclusive rights to operate Gap brand stores in Australia. The first store is slated for Melbourne and is expected to open in the fall.
More than 130 franchise stores are currently open in 20 countries.
