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Gap opens debut store in New Delhi

By Sujata Sachdeva

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American clothing retailer Gap has finally official entered India with the launch of its first store at the Select Citywalk Mall in Saket, Delhi. The company has announced its partnership with Arvind to enter the country. Arvind aims to invest Rs 400 crores to spread Gap’s presence with almost 40 stores over the next five years.

To begin with, the company would launch stores in the top three metros of Delhi, Mumbai and Bangalore, with about 10 store opening planned by mid-next year, at an investment of around Rs 8-10 crores each. The company has decided to keep the prices of women's denims from Rs 2,000 onward and tops will begin from Rs 799. This pricing range suggests that the company has kept the price sensitive Indian consumers in mind.

Bullish on India, Gap with a presence in 45 markets, finds enormous opportunity to achieve Rs 1,000 crores, by establishing Gap brand in India. As per the Technopak study, Indian apparel market is expected to grow at a CAGR of 9 percent, from 41 billion dollars (over Rs 26,200 crores) in 2013 to 102 billion dollars (over Rs 6,52,000 crores) in 2023.

Arvind
Gap