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July 6, 2022, 2:19 p.m. EDT

Gap announces franchise partnership in India

Gap Inc. (NYS:GPS) said Wednesday that it has entered into a franchise partnership with Reliance Retail Limited to bring the namesake brand to India. Reliance Retail will become the official Gap retail across channels, including stores and digital. Gap stock has plunged 52% for the year to date, with the company's Old Navy brand struggling to stabilize.

Link to MarketWatch's Slice.