GAP has just joined the big boys on the luxury shopping street of Mid Huaihai Road in Shanghai.
Flagshop stores for Louis Vuitton, Cartier, and more already mark a precense on the street, but now Gap has marked its spot after opening the first of its four stores in China last night.
And it’s a pretty smart move on Gap’s part as they’re projecting 25% of its revenues to come from international and online sales by 2013.
John Ermatinger, president of Gap’s Asia-Pacific region, reveals:
“We have an appetite, we have motivation and we have a ceo now that really believes in international growth. We now have the financial power and the wherewithal to make that happen.
We looked at all of our competitors both local and international, and that has guided us in terms of our pricing structure, our store design and our product selection and presentation. We believe we are going to be as competitive and attractive as any brand in this market."
Let's see how well it does in China. Hopefully turns out to be a good investment.
[Image via Getty Images.]
Tags: china, gap, launch, luxury, retail, shopping