Gap to open 15 new stores in Mexico this year

By

Francelia Rodriguez Ceballos

Published
Jan 26, 2016

Gap Inc continues its expansion into the Mexican market, following the successful arrival of its Old Navy brand in August 2015. According to the company, the American retailer plans to establish and consolidate its namesake brand Gap in Mexico by 2020 with a major retail store rollout.

60 new stores are slated to open over the next four years in an expansion strategy that will see 15 new units launch annually.

Gap Inc, which also owns Banana Republic, Athleta and Intermix, is set to open new locations in Mexico City’s Paque Delta and on Via Vallejo, as well as in Irapuato, Monterrey and Playa del Carmen.

The group’s revenue fell 3% in December 2015 on a year-on-year basis.

Gap sales were down 2% against a fall of 5% in the same period in 2014. The group’s upscale brand Banana Republic declined 9%, while family retailer Old Navy saw sales fall 7% in the period, in contrast to an 8% growth it posted in December 2014.