Old Navy launches major Canadian expansion plan
The budget retailer is set to open at least 100 new stores by 2020
Copyright © Western Investor
Old Navy announced this week it would be opening eight new stores in Canada this year, with plans to bring at least 100 new shops to the Canadian market by 2020.
The expansion plans will more than double the number of Old Navy locations in the country. There are 78 Old Navy’s currently operating in Canada.
The American clothing retailer, owned by Gap Inc., will open the first of its new stores in May in Western Canada, at CrossIron Mills
shopping centre in Calgary and Outlet Connection Winnipeg
. A location in suburban Edmonton is also expected by the end of the year.
Old Navy president Sonia Syngal set the goal of opening 100 stores because of the value-priced clothing retailer’s success in the Canadian market. The company may open more if demand and opportunity presents itself.
“Old Navy’s success may be further evidence that Canada’s retail is polarizing – while a number of mid-market retailers are struggling and in some instances shuttering, high-end and value-priced retailers continue to see success,” noted Retail Insider
Old Navy is joined by other cost efficient-brands presently expanding in the Canada market, including Forever 21 and H&M.