Gap has announced a franchise agreement with Greek retail group Marinopoulos Group to bring Gap and Banana Republic to Greece, Romania, Bulgaria, Cyprus and Croatia.
Marinopoulos, which is also a franchise partner for Marks & Spencer, Carrefour and LVMH subsidiary Sephora, has the exclusive rights to the brands in the region.
“These markets represent a natural extension for our brands and we have an outstanding franchise partner in this region,” said Ron Young, senior vice-president of international strategic alliances for Gap. “The Marinopoulos Group has a successful track record of introducing well-known retail and apparel brands in these markets and they are an ideal partner for us.”
The first of the new Gap stores is expected to open in Greece in autumn, with the first Banana Republic store planned to open by spring 2009.
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