Gap, Banana Republic to exit by end of Feb
In this article (5)
Clothing brands Banana Republic and Gap are about to quit Singapore, FJ Benjamin has announced.
Both outlets have announced their impending departure on their respective Facebook pages.
FJ Benjamin, which brought both American brands to Singapore, says it will be closing the final two Banana Republic and three Gap stores in Singapore by the end of this month. The company has decided not to renew the franchise, which expires on February 28.
When the fashion retailer announced the brands’ arrival in Singapore in 2006, it said it planned to open 30 stores – including outlets in Malaysia – by 2010.
Gap’s stores are at Suntec City, United Square and VivoCity, while the Banana Republic stores are at Paragon and the Shoppes mall at Marina Bay Sands.
Questions & Answers
Q.Which company is responsible for closing the Banana Republic and Gap stores in Singapore?
Which company is responsible for closing the Banana Republic and Gap stores in Singapore?
FJ Benjamin is the company managing the closures. They brought both American brands to Singapore and have decided not to renew the franchise agreement, which concludes at the end of February.
Q.What is the specific reason given for the closure of Gap and Banana Republic stores in Singapore?
What is the specific reason given for the closure of Gap and Banana Republic stores in Singapore?
The article states that FJ Benjamin has decided not to renew the franchise agreement for both brands. This agreement is set to expire on February 28th, leading to the stores' closure by month-end.
Q.How many Gap and Banana Republic stores are currently operating in Singapore before their closure?
How many Gap and Banana Republic stores are currently operating in Singapore before their closure?
Before their closure, there are three Gap stores in operation, located at Suntec City, United Square, and VivoCity. There are also two Banana Republic stores, found at Paragon and the Shoppes mall.
Q.What were the initial expansion plans for Gap and Banana Republic when they first launched in Singapore?
What were the initial expansion plans for Gap and Banana Republic when they first launched in Singapore?
When FJ Benjamin launched the brands in Singapore in 2006, the plan was to open a total of 30 stores, including outlets in Malaysia, by the year 2010. This target included both Gap and Banana Republic.
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