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Gap Inc. Signs Franchising Deal in Israel

TEL AVIV-The first Gap store is set to open in the fall and a Banana Republic is scheduled to open here next year.

By Ian Ritter | Updated on February 18, 2009

TEL AVIV-Gap Inc. is in a partnership to bring its namesake chain and Banana Republic stores to Israel. Locally based Elbit Trade & Retail Ltd. will handle the rollout for the San Francisco-based apparel giant, and the first Gap store is set to open in the fall, while the first Banana Republic is scheduled to open next year.

Gap current operates 82 Gaps and 32 Banana Republics in 14 foreign markets. The company has a Middle Eastern presence in Bahrain, Kuwait, Oman, Qatar and the United Arab Emirates. Stores are expected to open in Egypt and Jordan as well.

Elbit has brought the Spain-based chain Mango to Israel, where it operates 20 stores and four outlet units. The firm also owns shopping and entertainment centers in Asia and Eastern Europe through its subsidiary Plaza Centers and developed the 279,864-square-foot Arena Mall here in Herzliya.

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