Gap to launch its own web platform in India by 2016

American brand Gap, which entered India in partnership with Arvind Lifestyle Brands, plans to launch its own web platform in the country by mid-2016. After opening a store in New Delhi, the Indian franchise partner is all set to open more stores in Bengaluru, Mumbai and Pune.

By March 2016, the company plans to have another eight stores, after which it will take the brand online. In the debut month of its launch in the country, Gap managed to close in on sales of fast fashion brand Zara at south Delhi's Select City Walk Mall. Sources say, Gap sold apparela and accessories worth Rs 23 lakh daily on an average during its first month of operations in India. It has surpassed every other retailer in the country in terms of per sq. ft. sales, and is slightly behind Zara.

Arvind aims to invest Rs 400 crores to spread Gap’s presence with almost 40 stores over the next five years. Bullish on India, Gap having a presence in 45 markets, finds enormous opportunity to achieve Rs 1,000 crores in sale, by establishing the 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.