The Gap taps Indian market again in collaboration with Reliance Retail

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• Reliance Retail has inked a long-terms partnership with The Gap (NYSE:GPS) to launch the American fashion brand in India.
• As per the long-term franchise agreement, Reliance Retail is an official retailer for Gap across all channels in India - Reuters.
• Reliance Retail will introduce Gap’s latest fashion offerings to Indian consumers through a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms.
• Gap's previous attempt to tap Indian customers failed after the retailer terminated its deal with a unit of Arvind Fashions in 2020, when strict lockdowns in the country resulted in near-zero footfalls across malls and shopping centers.
• Financials terms of the deal were not disclosed.
• “We look forward to growing the Gap business across key international markets. Partnering with regional experts, like Reliance Retail in India, allows us to deliver our relevant, purpose-driven brand to customers around the globe, while continuing to diversify our business portfolio through our partner-based model,” Adrienne Gernand, managing director of international, global licensing and wholesale, Gap Inc., stated.
• Since the start of 2022, GPS lost around 54%.

Comments

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This seems like positive news, yet no jump in stock.

Wonder if Mr Market is not convinced about the execution/costs?