Gap Inc. to open 40 stores in India

US fashion firm Gap Inc. has partnered up with Arvind Lifestyle Brand, a subsidiary of Arvind Limited which is one of the

largest textile companies in India, to open 40 stores in the country.

During the announcement of its second quarter for the fiscal year 2014, Gap revealed its plans to enter the Indian market in 2015, through the franchise agreement with Arvind. Gap noted in a statement that the firm has a longstanding commitment to India after sourcing products from the country for decades and for the country being one of the firm's top ten global sourcing locations.

“India is a vibrant emerging market and an important next step in our global expansion strategy,” said Steve Sunnucks, global president of Gap. “Gap is loved around the world for our American casual style and enduring value and quality, and we are so pleased to bring our brand and products to life for customers in India.”

The first stores are predicted to open in two of India's largest cities, Mumbai and Delhi, and will launch in time for Gap’s Summer 2015 collection for adults, kids and babies. Gap added that as the world's second most populated country, boosting over 1.2 billion people, India is a vital market for Gap to showcase its 'American casual style.'

“More than half of India’s population is under 25 and they are actively embracing fashion in today’s retail environment,” said Ismail Seyis, vice president of Gap global franchise. “We are thrilled to know that our brand awareness is very high and there is a deep affinity for Gap in India. We look forward to gaining a deeper understanding of the marketplace and consumer needs to create the best possible Gap brand experience for the local consumers.”

Since launching its first franchise-operated store in 2006, Gap has expanded its brand presence to nearly 50 countries, and operates almost 400 stores alongside with 3,200 stand alone stores.