Gap announces franchise agreement with Elbit Trade & Retail

Gap, a retailer of apparel, accessories and personal care products, has announced a franchise agreement with Elbit Trade & Retail to bring Gap and Banana Republic stores to Israel.

Under the agreement with Elbit, the first Gap store in Israel will open in fall 2009, featuring clothing for adults, kids and babies. Banana Republic, which will offer apparel for men and women, is expected to open in spring 2010.

According to Gap, together with its franchise partners, the company has opened 89 Gap and 32 Banana Republic franchise stores in 14 countries around the world.

Ron Young, senior vice president of international strategic alliances for Gap, said: “By signing this agreement, we’re building upon the success we’ve seen in other countries in the Middle East and Mediterranean. We selected Elbit Trade & Retail for their extensive experience in real estate development and their strong track record of operating franchise stores for other retailers.”

Source: Datamonitor

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