Gap to treble China sales

American retailer Gap expects its China sales to reach $1 billion in three years.

Gap has 81 namesake stores in China, having added 34 last year. Another 30 will open this year, it says.

In March, the company opened the first of five Old Navy stores planned for the Chinese market this year.

“We can push Old Navy deep into China,” said Jeff Kirwan, president, Gap, Greater China.

Gap says it is reducing its reliance in the North American markets, where its sales are cooling.

Based in San Francisco, Gap operates brands including Gap, Banana Republic, Old Navy, Piperlime, Athleta and Intermix. Its products are available for purchase in more than 90 countries worldwide through about 3100 company-operated stores, over 350 franchise stores, and e-commerce sites.

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