Bangkok--14 Jul--Minor International
Minor International (MINT) is pleased to announce that its wholly owned lifestyle brands distribution subsidiary, Minor Corporation (through its subsidiary Armin Systems Limited), has signed a franchise agreement with Gap Inc. to open Gap stores in Thailand. MINT’s first Gap store is expected to open in the spring of 2010 and it will sell clothing for adults, kids and babies.
Mr. William Heinecke, Chairman and CEO of Minor International, said ”We are thrilled to have this opportunity to partner with a company like Gap and add the Gap brand to our portfolio of fashion and apparel brands. The Gap brand has tremendous equity around the world and through our research, we are confident that the Gap brand will be a great success in Thailand.”
Ron Young, senior vice president of international strategic alliances for Gap Inc. said, “We are pleased to expand in Southeast Asia with such a well-respected partner. Minor Corporation, which is part of Minor International, is an experienced retailer in Thailand with a deep understanding of the marketplace and we are excited to join with them to offer the Gap brand to our customers in Thailand.”
MINT’s first Gap store is expected to open in early 2010 and among other things it will carry Gap’s iconic casual products such as jeans, t-shirts and clean casual bottoms.
About Minor International:
Minor International (MINT) is a global company focused on three primary businesses including hotels, restaurants and lifestyle brands distribution. MINT is one of Thailand’s largest distributors of lifestyle fashion and cosmetics brands including Gap, Esprit, Timberland, Bossini, Charles & Keith, Red Earth, Bloom, Laneige, and Smashbox. MINT is one of Asia’s largest restaurant companies with over 1,000 outlets operating system wide in 13 countries under The Pizza Company, Swensen’s, Sizzler, Dairy Queen, Burger King, Thai Express and the Coffee Club brands. MINT is also a hotel owner, operator and investor with a portfolio of 27 hotels operating in eight countries under the Anantara, Marriott, Four Seasons, Elewana and Minor International brands in Thailand, the Maldives, Vietnam, Africa, the Middle East and Indonesia. In January 2009, MINT was recognized by Asia Money magazine as Thailand’s Best Managed Medium Cap Company for financial and business performance, management strategy and vision, and shareholder value creation. For more information, please visit www.minornet.com
About Gap, Inc.:
Gap Inc. is a leading global specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Piperlime and Athleta brand names. Fiscal 2008 sales were US$ 14.5 billion. Gap Inc. operates more than 3,100 stores in the United States, the United Kingdom, Canada, France, Japan and Ireland. In addition, Gap Inc. is expanding its international presence with franchise agreements in Asia, Europe, Latin America and the Middle East. For more information, please visit www.gapinc.com.
Press Contacts: Pratana Mongkolkul / Prapharat Tangkawattana at Tel: (662) 381-5151