San Francisco retailer Gap Inc. is opening its first Gap store in Vietnam in October and a Banana Republic store next year — both in Ho Chi Minh City — and plans to open retail outlets in Hanoi starting in 2012.
Gap now has 3,100 stores in 90 countries. The company recently added 200 stores in 26 countries throughout Asia, Europe, Latin America, the Middle East, Australia and Africa. Gap and plans to double its franchise stores to 400 by 2014, hoping to improve on its 19% drop in second-quarter profits this year.
More on Gap’s plans for Vietnam