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MANILA, SEPTEMBER 9, 2013 In the first quarter of 2013, Old Navy, one of the largest apparel retailers in North America, announced that they’re eyeing to start franchising globally.
With over 1,000 stores currently operating in the U.S, Canada and Japan, Old Navy declared their plans of expansion in the Philippines and China in 2014.
Stores Specialists, Inc. (SSI), a corporation that operates Gap brand and Banana Republic stores in the Philippines, will also open two Old Navy outlets in 2014 and are planning to launch additional stores by the end of the said year.
Sonia Syngal, senior vice president of Old Navy International said: “With a steadily growing retail market, the Philippines represents a great opportunity for Old Navy and an important step in the brand’s international expansion… consumers have a great interest in the iconic American brand Old Navy, and we look forward to making current American fashion essentials accessible for every family.”
Meanwhile, Anthony Huang, SSI executive vice president commented: “We’re thrilled to be the first franchisee for Old Navy and help introduce one of the largest apparel brands to consumers in the Philippines… as the country’s retail market continues to grow, we look forward to sharing our local expertise with Gap Inc. to help the company grow its presence.”
