Old Navy Vietnam finally opened its first store in Vietnam on Friday.
Located on the lower B1 floor of Vincom Center on Dong Khoi Street in Ho Chi Minh City, the store was formally opened by Louis Nguyen from ACFC, a subsidiary of IPP Group, the Vietnam franchisee of Old Navy and sister brand Gap and representatives from Gap Inc in the US.
“We are very excited about Vietnam and we’ve recognised that there is such a large demand for international retailers in the country, specifically for American fashion,” said Roy Hunt, senior VP of global franchise with Gap Inc.
“For us, this is the perfect time to come to Vietnam.”
Hunt told Inside Retail Asia that Old Navy Vietnam will open two more stores this autumn, one in Hanoi and a second in Ho Chi Minh City.
“We’ve recently started franchising Old Navy [abroad] and we’ve found a great partner, which is the ACFC. The timing is perfect and we feel good about Vietnam,” Hunt said.
Vietnam is the eighth overseas market Old Navy has franchised in. Gap and ACFC have partnered before with Gap and Banana Republic.
The store features the newest items and collections from Old Navy, including ranges for women, men and kids.
“We are committed to giving our customers must-have essentials for their everyday lives, season after season, including items like our denims, tees, pixies pants, khakis and activewear,” Hunt said about Old Navy strategy in Vietnam market.