American clothing giant Gap has announced separate franchise agreements to introduce both Gap and the Banana republic to the Middle East Market.
Over the next five years, Gap Inc.'s franchise partners- Fawaz Alhokair Group (Saudi Arabia), and Fiba Holding A.S. (Turkey) - plan to open a combined total of approximately 90 Gap stores and 20 banana republic stores throughout Saudi Arabia and Turkey, reported fashion united.
Ron Young, senior vice president of international strategic alliances for Gap Inc said:" Both Saudi Arabia and Turkey represent natural markets for Gap Inc. to expand its international presence."
"Each of these countries has a strong, steadily growing economy, and consumers in these markets have a great interest in iconic apparel brands such as ours."
The first stores for Gap will open at the end of this year and the first Banana republic stores are expected to open in each country by spring 2008.
Patricia Johnson