DENPASAR ~ In a sign of increasing business confidence in Bali and the nation in general, Singaporeâ€™s FJ Benjamin, a franchise partner of US specialty retailer Gap Inc, announced this week that it plans to open 15 Gap, BabyGap and GapKids stores and five Banana Republic stores here and across the country by 2011.
The company said in a statement that the first Gap and Banana Republic stores will open in Jakarta in March next year, followed by the remainder opening in Surabaya, Bandung and in Bali before 2011.
Apparel retailer Gap owns the Gap, Old Navy and Banana Republic brands.
â€œThere is a significant amount of important retail centre development in the market and a growing presence of international lifestyle brands, such as Gap and Banana Republic,â€ Art Peck, a vice president, said in the statement.
The move follows the signing of an agreement between FJ Benjamin Lifestyle Pte Ltd, the Singapore subsidiary of FJ Benjamin Holdings, and GPS Strategic Alliances LLC, a wholly owned subsidiary of Gap Inc.
Similar agreements were signed in January this year for Singapore and Malaysia.