Gap-owned fashion retailer Banana Republic may launch in Australia, it has been reported. Local operator Busbrand is in talks for the licence for the brand. “It’s early days but we’re very excited,” says Busbrand chief executive Andrew Bousie.

Busbrands operates three Gap stores in Australia and as well as fashion chains Aldo and Guess.

Bousie said Busbrands was not interested in Victoria’s Secret, Uniqlo or H&M, which are said to be in talks with local operators.