Gap, Banana Republic stores to open in Indonesia
Singapore (ANTARA News) - Singapore's FJ Benjamin, a franchise partner of US specialty retailer Gap Inc, said Tuesday it plans to open 15 Gap, BabyGap and GapKids stores and five Banana Republic stores in Indonesia by 2011.
The company said in a statement that the first Gap and Banana Republic stores will open in Jakarta in March next year, followed by the remainder
opening in Surabaya, Bandung and on the resort island of Bali before 2011.
Apparel retailer Gap owns the Gap, Old Navy and Banana Republic brands.
"There is a significant amount of important retail centre development in the market and a growing presence of international lifestyle brands, such as Gap and Banana Republic," Art Peck, a vice president, said in the statement as reported by AFP.
The move follows the signing of an agreement between FJ Benjamin Lifestyle Pte Ltd, the Singapore subsidiary of FJ Benjamin Holdings, and GPS Strategic Alliances LLC, a wholly owned subsidiary of Gap Inc.
Similar agreements were signed in January this year for Singapore and Malaysia.
Gap Inc has more than 3,000 stores globally. (*)