The pair plan to set up 33 stores in the next five years
Gap’s franchise agreement with Arvind Lifestyle Brands to expand in India represents a revenue opportunity of INR 1,000 crore ($151m) in the next five years, Suresh J, CEO of Arvine Lifestyle Brands, told The Hindu.
The pair plan to set up 33 stores in the next five years. The first flagship store spanning 10,000 sq ft opened in New Delhi in May, followed by another in September in Bengaluru’s Orion Mall.
Seven more stores will open in Mumbai, Delhi, Pune and Bengaluru by March 2016, each at a cost of INR10 crore ($1.5m) and of an average size of 9,000 sq ft.
STAY UP TO DATE: You want the need-to-know news, right? Our journalists deliver a daily curation of the most important industry happenings. Sound good? Join WGSN.