Gap to open four stores, e-commerce site in China
Apparel retailer Gap Inc. on Wednesday unveiled details of its entry into China, announcing plans to open four Gap brand stores this year and launch an e-commerce website.
The San Francisco-based company, parent to the Gap, Banana Republic and Old Navy brands, said the moves marked the start of a “long-term, multichannel” strategy in the rapidly growing Chinese market.
The stores, two in Beijing and two in Shanghai, will feature a full range of Gap adult, GapKids and babyGap products.
“After spending a lot of time listening to Chinese consumers and learning more about their shopping preferences, we’re excited at the prospect of meeting their fashion needs,” Gap Inc. Chief Executive Glenn Murphy said.
Gap Inc. operates about 3,100 stores worldwide including in Canada, Britain, France and Japan.
Betty Chen, a retail analyst at Wedbush Morgan Securities, said that the China entry “makes a lot of sense” and that she expected Gap’s fashions and prices to resonate well with Chinese shoppers.
“Overall, it’s a very smart strategy and we think that this is definitely going to be another meaningful top-line opportunity for the company,” she said. “In the future, we could potentially see them entering China with Banana Republic and Old Navy.”
