Filling the Gap in stores
By Lu Nengneng |
January 19, 2012, Thursday
|
Print Edition
Print Edition
GAP Inc, America's biggest apparel retailer, will open new stores in China quickly this year as part of its global expansion strategy.
The San Fransisco-based clothing and accessories retailer opened two new stores on East Nanjing Road and Huashan Road in Shanghai yesterday, bringing the total number of shops in China to 14 from 4 in 2010.
With China as one of Gap's most important markets globally, the retailer expects to have 45 new stores in the country in its 2012 fiscal year which ends in January next year, Aina Konold, chief financial officer and vice president of Gap's business in China, said.
To meet the target, Gap will penetrate further in the 5 major Chinese cities - Beijing, Shanghai, Hong Kong, Tianjin, and Hangzhou - where it has already established a presence as well as break into other new cities that have great consumption potential. With seven stores Shanghai remains Gap's biggest market in the nation.
The San Fransisco-based clothing and accessories retailer opened two new stores on East Nanjing Road and Huashan Road in Shanghai yesterday, bringing the total number of shops in China to 14 from 4 in 2010.
With China as one of Gap's most important markets globally, the retailer expects to have 45 new stores in the country in its 2012 fiscal year which ends in January next year, Aina Konold, chief financial officer and vice president of Gap's business in China, said.
To meet the target, Gap will penetrate further in the 5 major Chinese cities - Beijing, Shanghai, Hong Kong, Tianjin, and Hangzhou - where it has already established a presence as well as break into other new cities that have great consumption potential. With seven stores Shanghai remains Gap's biggest market in the nation.
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