Gap set to open first store in India this month

Gap (NYSE:GPS) will open its first store in India on May 30 in the Select CityWalk mall in Delhi.

The retailer is working in partnership with Arvind Lifestyle Brands Limited, a company that operates international stores for other brands including Next, Hanes, Ed Hardy, Nautica, Arrow, and U.S. Polo Association, reported Women's Wear Daily.

Spearheading the move is Oliver Kaye, CEO of the Gap Business at Arvind—formerly an executive at Tesco and head of Calvin Klein India in 2008.

"There is a huge recognition for the brand and I think it will do phenomenally well in India," Kaye told Women's Wear Daily.

Gap announced last August that it would open 40 storefronts in India over the next five years. In the first year, 2015, the retailer will launch five to seven stores. The first flagship will be 10,000 sq. ft. and the rest of the locations will range between 6,000 and 10,000 sq. ft.

Although brands typically have higher price points in India because of duties and rent, Gap items will be priced similar to what they cost in the United States. Pieces will be the same as what shoppers would buy in the United States or London.

India has become a destination for global brands over the past few years including Zara, Mango and Forever 21, with H&M opening later this year.

Gap has also been growing its international presence. The company has 3,300 stores around the world, 400 of them franchised locations. Earlier this year, the company announced a deal with Europe's largest online fashion retailer, Zalando, to sell its brand. The retailer also recently announced a partnership with China's to sell apparel on the Beijing-based e-commerce site.

For more:
-See this Women's Wear Daily article (subscription)

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