New brands to hit UK in Gap expansion drive

Fashion giant Gap has reaffirmed its intention to bring new brands to the UK, paving the way for the arrival of either Old Navy or Banana Republic.

Speaking at the Credit Suisse First Boston Fifth Annual Retail Conference in New York on Tuesday, Gap president and chief executive Paul Pressler said international expansion was one of three main sources of growth.

'We're exploring how to bring the right brand to the right market ... We will begin by taking our current brands into areas where we already do business, such as Japan and the UK.'

He added Gap was building an international design team and putting merchandising expertise into local markets.