GAP opens first franchise store in South Africa
According to comprehensive media reports, after Spain’s Zara, Europe’s largest clothing retailer, opened its first store in South Africa in November 2011, the American clothing retail giant Gap Inc (GPS) recently announced that it will sign a contract with local department store operator Stuttafords in South Africa in the near future. Agreement to open the first independent franchise store, thus becoming the second world-famous clothing brand to enter the South African market. It is reported that consumer spending on the African continent is expected to reach US$1.4 trillion from 2010 to 2020, prompting more world-renowned brands to increase their pace of entering the African retail market.
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