One of the most positive signals of a country or region’s future potential is the arrival of name-brand retail stores.
Gap, Banana Republic, and Old Navy Coming to the Region in a Big Way
These companies go to incredible lengths with due diligence to make sure that the locations they invest their brick-and-mortar outposts in have all the factors in place to make the marriage successful. This means economic and political stability, increasing numbers of foreign and domestic capital injection, first-world infrastructure, and a tourism sector that has arrived or is on the precipice of becoming a major hub.
Few names carry the clout in the world of affordable and trendy outfitters as the Gap brand. The namesake parent company, along with its equally notable divisions of Old Navy and Banana Republic, has announced big news for the Central America region. With deals finalizing in 2019, the next few years will see major openings of the brands in Nicaragua and across Central America. The deal is part of an agreement made between Gap Inc. and Grupo Promérica.
Photo courtesy of diariometro
2019 will see two confirmed openings in Costa Rica, with three more stores set to open in the region in 2020. If initial projections are met, 2021 will see multiple openings across Nicaragua, Honduras, El Salvador, Guatemala, Jamaica, Trinidad & Tobago, and the Dominican Republic - with a total of 45 new stores opening across Central America over the next 8 years.
"AR Retail, on this occasion, wanted to bring brands that were highly recognized worldwide such as Gap, Banana Republic, and Old Navy to offer consumers in Central America and the Caribbean additional options of clothing and accessories at affordable prices and designed under the latest fashion trends. We are confident that AR Retail will be able to successfully position these brands in the countries of Central America and the Caribbean where we will operate," said Antonio Burgos, Director of AR Retail, a partner company within Grupo Promérica.
To date, Gap Inc. has generated nearly $15 billion in revenue and has around 4,000 locations worldwide. This latest focus on Nicaragua and Central America means that the company sees bright things on the horizon for the region. Those with a financial, emotional, or personal interest in Nicaragua or the surrounding areas should take this news as a major sign of great things to come for residents and visitors.
ECI Development delivers affordable luxury residence and resort communities in Central America, providing our clients with various premier lifestyle options from the Caribbean to the Pacific. ECI delivers inspired residences for adventurous souls.
Coupled with over 20 years of inherent corporate social responsibility in the communities where we work, ECI Development is building a sustainable business that is going to be around for the next 100+ years.