This excerpt taken from the GPS 8-K filed Oct 16, 2008.
Gap Inc. Strategic Alliances: Art Peck
In less than two years, more than 100 Gap and Banana Republic franchise stores have opened around the world. The positive customer response is a testament to their brand equity. Gap Inc.s franchise model is highly scaleable and allows Gap Inc. to expand quickly across multiple countries with low capital expenditure requirements and high return. To date, the company has signed agreements for 21 countries in Southeast Asia, Eastern Europe, Latin America and Russia and opened 78 Gap and 31 Banana Republic stores in 13 countries: Bahrain, Greece, Indonesia, Kuwait, Malaysia, Oman, Qatar, Philippines, Saudi Arabia, Singapore, South Korea, Turkey and United Arab Emirates. Gap stores will open in Moscow, Egypt and Jordan for Holiday 2008. Top priorities for 2009 are executing on the signed franchise agreements to open stores in places like Mexico, Bulgaria and Romania.