US brand to make its debut on Regent Street
Gap will open its first Banana Republic store in the UK in 2008.

The US company has signed its first European shop for Banana Republic in London's Regent Street.

Gap said the UK opening was a logical extension of the Banana Republic brand into new markets. The group has increased its Banana Republic presence in Japan and Canada over the past 12 months.

Gap Europe president Stephen Sunnucks said: 'With its affinity for fashion and luxury products, the United Kingdom has the potential to be a strong market for Banana Republic and our customers in Europe have expressed a great deal of interest in us bringing the brand here. This is an exciting first step for Banana Republic in the UK.'

Banana Republic sells quality basics and officewear with a fashion edge. A pair of chino's is US$78 (£40), a cotton/silk-mix cardigan costs US$78 (£40) and a lightweight wool suit blazer sells for US$198 (£100) in the US.

Gap chief executive Paul Pressler resigned this week following dismal Christmas sales. In December, Gap is understood to have appointed Goldman Sachs to conduct a strategic review of the business, which could lead to a sale of all or part of the company.

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