This excerpt taken from the GPS 8-K filed Nov 16, 2006.
The companys growth strategy is to build and expand its brands through new product categories and through international, online and real estate growth. In the third quarter, Banana Republic continued its expansion in Japan, and the first Gap franchise stores opened in Singapore and Malaysia. The company has built a world-class online business, with the October launch of Piperlime (an online shoe business) being the most recent example. An additional 10 new Forth & Towne stores opened in the third quarter.