One of the US ‘s tried-and-true success formula’s is coming to London . Banana Republic will open on Regent’s Street next year. Parent company Gap Inc said it had signed a lease for a directly owned store here, but would not reveal any more details.
“With its affinity for fashion and luxury products, the United Kingdom has the potential to be a strong market for Banana Republic, and our customers in Europe have expressed a great deal of interest in us bringing the here,” Stephen Sunnucks, president of Gap Inc Europe, said in a statement. “This is an exciting first step for Banana Republic in the UK .”
Sunnucks also said the brand was looking to expand into international markets as a whole. “International is an important potential area of growth for Gap Inc – and as we’ve said, we are continuing to explore ways to take our existing brands into new countries.” WWD reported that Gap Inc was planning to expand throughout Europe . Executives could not be reached for comment. In the meantime, the Gap and Banana Republic brands are planning to open stores in South Korea through a franchise agreement with Shinsegae International. Gap Inc already has other franchise agreements for the brands in the Middle East , Indonesia , Singapore and Malaysia .