US apparel retailer 'Gap' in collaboration with Arivand sets up 40 stores in India

摘要

US apparel retailer Gap has tied up with Arvind Lifestyle Brands, a subsidiary of Arvind Ltd, to set up 40 stores in India. Arvind Ltd said the franchisee agreement with the San Francisco-based firm is a step towards adding premium brands to its portfolio. "Apparel is a very large category with huge growth potential. We are looking at luxury, premium, speciality retail and e-commerce for our next phase of growth," said Sanjay Lalbhai, Chairman, Arvind Ltd, adding e-commerce will be a category by itself. Gap stores will be spread over 8.000 sq.ft. Each store will entail an investment of Rs.10 crore. The first store is expected to be rolled out by the middle of next year starting with Delhi and Mumbai.