Gap to open 'flagship' China stores
June 25, 2010 | Posted by Chris
The US clothing company GAP will enter China for the first time with plans to open 4 flagship stores in Beijing and Shanghai before the end of this year, major new outlets report. In an effort to offset store closures in North America, the company will also sell its clothes to Chinese customers online. Gap executives are optimistic about developing their brand in China, because of the market's potential and the fact that the company's international stores last month grew at 8 times the pace of total sales. As for the recent unpegging of the Chinese yuan against the dollar and the potential rise in the yuan's value, one executive said, "The issue around the currency didn't play into our decision making."