High street giant Gap has announced plans for its first stand-alone stores in Brazil as part of the company’s global expansion strategy. Gap Inc. signed an agreement with Tudo Bom Comércio Ltda. for the planned opening of the first stores in the fall of 2013.
Gap plans to expand its store base in the country over the next five years, part of its strong platform of growth in the Brazilian retail market.
“Brazil is a critical next step in our global expansion strategy and we are excited to introduce our store experience to customers,” said Stefan Laban, Managing Director of Strategic Alliances, Gap Inc. “Given that Brazil is the fifth largest country in the world and the largest Latin American economy, we feel that this market provides us with an incredible growth opportunity.”
Previously, Gap offered its products solely through duty-free channels throughout Brazil. The first Gap stores will open in Sao Paulo, the country’s largest city followed by Rio de Janerio. The stores will house Gap, GapKids and babyGap collections.
Gap Inc. has significantly expanded the international reach of its brands since launching its first franchise operated store in 2006. The company recently opened its 300th franchise store, which can be found in 40 markets throughout Asia, Europe, Latin America, the Middle East and Australia.
The expansion into Latin America began in 2011 with Gap Inc.’s first stores launching in Santiago, Chile. Most recently, Gap Inc. opened its first store in Uruguay and now has a presence in five Latin American countries, including Panama, Colombia and Mexico.
Image: Gap AW12 campaign