Gap in the Irish market

GAP will open its first Irish standalone store this year, as more retail names finalise plans to expand their operations here.

The store will be located at the Dundrum Town Centre and will open in May.

The centre is in discussions with a number of other international stores looking to expand into Ireland. Lipsy is opening in May, while H&M Kids will open at the end of this month.

Footfall at Dundrum Town Centre is up 11% during the first 10 weeks of the year compared with last year, according to centre manager Don Nugent.

“Consumers haven’t hibernated and they are still spending money.

“They are not just looking for sale items but they are looking for value. There is an element of caution around,” he said.

The Gap store will be a “medium-sized” outlet covering 8,000 square feet over two floors, housing women’s, men’s, GapKids and babyGap.

The company would not comment on its plans for the Irish market but said “international growth opportunities are a strategic focus for Gap”.

Stephen Sunnucks, president Europe and international strategic alliances for Gap, said this move is an exciting one for the retailer.

“With its affinity for fashion Dundrum Town Centre has the potential to be a strong market for Gap and our customers have expressed a great deal of interest in us bringing the brand here.”

The retailer already has stores in Britain, America, Canada, France and Japan.

Mr Nugent said: “Our success in bringing the first standalone Gap store to Dublin, is a testament to the success that the centre continues to enjoy and we are confident that it will further compliment our existing retail offering.”

Gap will operate from the old Mango unit.

Mr Nugent also said the centre has “no history” of rent reductions and said it has no plans to agree any rent reductions with tenants.