![\"gap\"](\"https:\/\/www.franchisemart.in\/franchise\/wp-content\/uploads\/2020\/10\/gap.jpg\")
<\/a>gap<\/p><\/div>Breaking News india<\/a><\/strong>,Latest Franchise News India<\/a><\/strong>,Arvind Lifestyle Brands Ltd, a wholly-owned subsidiary of Arvind Fashions Ltd (AFL), and Gap Inc have decided to mutually terminate their franchise <\/a><\/strong>business relationship in India.<\/p>\n \u201cDue to circumstances post the corona pandemic, both companies agreed that a mutual termination was in both companies\u2019 best interest. As next steps, both companies will work out modalities regarding transition of the Gap business<\/strong>. Arvind Lifestyle Brands <\/a><\/strong>Limited has appointed an investment bank to find a buyer for the Gap business,\u201d said a regulatory filing by Arvind Fashions.<\/p>\n The Gap business delivered revenues of Rs 182 crore (4.7 percent of AFL\u2019s consolidated turnover) with a PBT loss of Rs 34 crore in FY2020.<\/p>\n The company has entered into a binding agreement on September 29 with Gap Inc to terminate the franchise business<\/a> <\/strong>relationship in India.<\/p>\n The companies are working out modalities regarding transition of the Gap business in India and the closure period will become clear over time. 1. FranchiseMart will remain continue franchising services in lockdown time<\/a><\/p>\n 2. Apple plans to open retail shop in India by 2021<\/a><\/p>\n 3. Thomas Cook India started outlet in telangana<\/a><\/p>\n 4. Choice Hotels plans 11 new hotels in India in 2020<\/a><\/p>\n 5. Future Group plans to open 7-Eleven franchise in India<\/a>
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