Gap to expand store count in India, expects Rs 1000 crore sales
Arvind Lifestyle Brands Limited which owns the India rights for American casual fashion brand Gap is planning to expand the store count for Gap in India and is likely to add 4 exclusive brand outlets this year.
The brand is also looking to open ten additional shop-in-shop stores this year through leading multi brand retailers in the country. Gap is expecting to generate sales revenue of Rs 1000 crore in the coming years.
The company recently opened an exclusive brand store for Gap in the city of Kolkata and expected to enter newer cities by the end of this year. The brand is in talks to partner with leading departmental chains such as Shoppers Stop and Lifestyle to open shop-in-shop formats especially in tier 1, 2 cities. It is also strengthening its online network to cater to smaller towns across the country.
Gap is unperturbed with competition from other fashion retailers as it feels the Indian fashion market is huge for several brands to coexist.
“The size of the Indian market is so huge that there is scope for multiple brands to operate. And unlike several other brands, Gap has products catering for a new born till an adult which very few brands offer. The brand sales are as per expectation and will touch the Rs 1,000 crore mark soon, Arvind Lifestyle Brands business head for Gap Parag Dani told the Times of India
“Around 38% of Gap sales in India is from the men’s range, 34% from baby and kids range, and the rest 28% from the women’s range”, said Dani.
Currently, Gap has 13 standalone stores in the National Capital Region, Mumbai, Kolkata, Bengaluru, Pune, Chennai and Indore, apart from 15 shop-in-shop stores in multi-brand retailers in tier-II and III cities. Gap is also available online through Arvind group’s ecommerce venture Nnnow.com and Amazon India.
Arvind Lifestyle Brands Limited is a subsidiary of Arvind Ltd and has licensing relationships with international brands including Gap, TCP, Gant, Nautica, Aeropostale, Arrow, Izod, US Polo Association, Elle, Ed Hardy, Hanes, Cherokee and Geoffrey Beene.
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