Arvind announced that its subsidiary Arvind Lifestyle Brands Ltd, has tied up with Gap Inc., to open Gap stores in India. The first stores are expected to open in India?s two largest cities ? Mumbai and Delhi ? starting with Gap?s Summer 2015 collection for adults, kids and babies. Arvind plans to open about 40 franchise-operated Gap stores in India.
?India is an emerging, vibrant market and an important next step in our global expansion strategy,? said Steve Sunnucks, Global President of Gap. ?Gap is loved around the world for our American casual style and enduring value and quality, and we are so pleased to bring our brand and products to life for customers in India.?
As the world?s second most populous country with more than 1.2 billion people, India represents an important platform to bring American casual style to consumers around the world.
?More than half of India?s population is under 25 and they are actively embracing fashion in today?s retail environment,? said Ismail Seyis, Vice President of Gap Global Franchise. ?We are thrilled to know that our brand awareness is very high and there is a deep affinity for Gap in India. We look forward to gaining a deeper understanding of the marketplace and consumer needs to create the best possible Gap brand experience for the local consumers.?
?We have a long and successful association with Gap as their vendor partner. Now I am delighted to extend this partnership to retail and bring Gap stores to India. We see the addition of Gap in our portfolio as a significant step to becoming the leading apparel retailer in India? said Sanjay Lalbhai, Chairman & Managing Director of Arvind Limited.
?Gap has a huge recall in India and is a favourite of many Bollywood stars in movies. Our goal is to leverage this huge awareness, to quickly scale up and build a large business for Gap Franchise in India? said J. Suresh, Managing Director & CEO, Arvind Lifestyle Brands Ltd.
Since launching its first franchise-operated store in 2006, Gap Inc. has quickly expanded the international reach of its brands, which now includes over 300 franchise-operated stores along with over 3,200 company-owned stores. The Gap brand now has a presence in nearly 50 countries, due to the rapid acceleration and commitment to the global expansion strategy.