Gap Inc. to Introduce Its US Outlet Concept to Italy
Gap to Open At Vicolungo Outlet Center This Summer
San Francisco, – Continuing with its global expansion strategy, Gap Inc. today announced plans to open its first store in an outlet center in Italy: a Gap store at the Vicolungo Outlet Center near Milan.
“We are excited to bring the value expression of Gap brand to Italy for the first time and provide Italian consumers with the opportunity to purchase products designed specifically for Gap’s fashion-minded, value-driven customer,” said Stephen Sunnucks, President, International, Gap Inc.
The Gap at Vicolungo is expected to open on June 2, 2011 and will be housed in a 700 square meter space. The store will offer the Gap style that customers expect for exceptional value through a combination of wardrobe staples, such as denim and logo products, as well as seasonal assortments for men, women, kids and baby.
“Opening only six months after the successful launch of our first flagships in Italy, this new store represents the fastest execution of our international strategy to date; adding our Outlet channel where we have been in-market for a period of time,” said Sunnucks. “With such a strong initial response from our customers, we will continue to expand our presence in Italy with our first stores in Rome and two additional Gap stores in outlet centers later this year.”
Gap Inc. currently operates more than 370 stores through its Outlet channel. Over the last four years, Gap Inc.’s international Outlet store base has increased over 500 percent across the United Kingdom, Canada and Japan. Gap Inc. plans to grow this channel further with about 25 additional international stores in 2011 and through new market entries, such as China in 2012.
Gap Inc. is focused on growing its share of the $1.4 trillion global apparel market. To capitalize on its significant global business opportunities, the company recently announced the combining of its International operations into one division.
About Gap Inc.
Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands. Fiscal year 2010 net sales were $14.7 billion. Gap Inc. products are available for purchase in over 90 countries worldwide through about 3,100 company-operated stores, about 180 franchise stores, and e-commerce sites. For more information, please visit www.gapinc.com.
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