Gap Entering SE Asia

SAN FRANCISCO-Gap Inc. has made a franchise agreement to open 30 Gap and Banana Republic stores in Malaysia and Singapore by 2010. The retailer has chosen Singapore-based FJ Benjamin, a regional retail operator, to operate the stores.

Singapore is an attractive market for Gap because it is a shopping destination in Asia, and Malaysia is one of the fastest-growing markets for new malls, says Andrew Rolfe, president of Gap Inc. International, in a statement. Gap already has a presence in Japan, where it operates about 100 stores, and executives have said they are looking at China for future expansion.

FJ Benjamin executives are planning Gap’s first flagship store in Singapore and first in Asia, outside of Japan, to open during this year’s third quarter. The first Banana Republic to open in Singapore is scheduled for next year.