"We have a long and successful association with Gap as their vendor partner. Now, I am delighted to extend this partnership to retail and bring Gap stores to India. We see the addition of Gap in our portfolio as a significant step to becoming the leading apparel retailer in India," the company said in a release quoting Sanjay Lalbhai, Chairman and Managing Director, Arvind Ltd.
Arvind plans to open about 40 franchise-operated Gap stores in India, the release added.
The stock opened at Rs 256 and touched a high of Rs 276 so far on the BSE. The stock registered huge volumes with over 7.3 million shares traded so far on the BSE and NSE.
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