US clothes retailer Gap Inc. to open Serbian store.

By bne IntelliNews May 20, 2011
US clothes retailer Gap Inc. plans to open a Gap store in Serbia in 2011, the company said in a statement. The store will be located in the capital Belgrade and will offer products from Gap, GapKids and babyGap. The company plans to introduce the Gap brand in Serbia through new agreements with existing franchise partners. Serbia is the sixth country to be managed under Gap Inc.'s franchise agreement with Greek retailer Marinopoulos Group. The group also manages the company's franchise locations for Gap brand in Greece, Bulgaria, Croatia, Cyprus and Romania. Gap's net sales for the iscal year 2010 were USD 14.7bn. Gap sells its products in over 90 countries worldwide through about 3,100 company-operated stores, about 180 franchise stores, and e-commerce sites.

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