Largest US clothing retailer Gap plans stores in Chile, Panama, Colombia. Locations in Panama City to open in January
Retailer Gap said that it is entering the South American market by opening its first store in Chile on Friday, and will open stores in Panama and Colombia in 2012.
Gap said it will open Gap and Banana Republic stores in Panama starting with locations in Panama City in January, and it will open stores in Bogotá, Colombia, in late 2012.
Gap has expanded to 29 countries in Asia, Europe, Latin America and the Middle East in the past five years, opening franchise locations in 10 new countries in fiscal 2011 alone. It is the largest US clothing seller.
Original source: Bloomberg