US Retail Giant Gap Intends To Expand Business In Eastern Europe

US retail giant Gap Inc (GPS) said it plans to open stores in Serbia and Ukraine later this year to expand its presence in Eastern Europe.

The company said on Friday that it has signed a new deal with its existing franchise partners and will open Gap stores in Belgrade, Serbia and Kiev, capital of Ukraine.

The store in Kiev is expected to open next month, and the opening date of Belgrade store has not yet been determined.

Stephen Sunnucks, President of the company's international operations, said in a statement that Ukraine is the fastest growing retail market in Eastern Europe, while Serbia has many young customers who like shopping. Stephen,

Gap has been actively expanding its international business. Over the past 5 years, the company has extended its tentacles outside the United States from the two countries to 24 countries in Asia, Europe, Latin America, the Middle East and Australia.

The company has about 180 franchise stores and plans to increase to 400 in fiscal year 2015.

The company said in February this year that it was creating a new global creative center, and appointed Pam Wollack (Pam Wallack) as the head of the centre to cooperate with the divisional president of London, Tokyo, Shanghai and San Francisco.

Wollack served as president of Gap Adult North America, Gap.

In order to revive sales,