"I've been coming to Thailand for 15 years. My family and I love this country very much. One thing that I felt disappointed about was that there were many counterfeited Gap clothes sold in many places every time I came here. So I think it's time to bring in genuine Gap products to Thailand," said Ronald Young, senior vice-president of Gap Inc, who attended the store opening at CentralWorld.

Michael Binger, the chief operating officer of MINT, said the first Gap store on the ground floor of CentralWorld, covering 700 square metres, would offer classic and modern collections of Gap for men, women, children and babies.

He said the company strongly believed that Gap would become a hit in Thailand just as in other countries because of the product presentation and clean store layout, variety of products and affordable prices. Gap's target groups are families and young consumers aged 15-35 years. Its competitors are lifestyle brands such as Zara and Top Shop for young people.

Apart from CentralWorld, the company plans three more Gap stores in Bangkok, at Siam Paragon in May and the other two at Paradise Park on Srinakarin road and CentralPlaza Lat Phrao.

The company is aiming for 140 million baht in sales from Gap by the end of this year. The number of Gap stores will double to eight in 2014, when sales are projected to reach 1.1 billion baht.

Apart from Gap, Mr Binger said, the company was looking around for other new fashion brands.

Gap Inc offers clothing, accessories and personal-care products for men, women, children and babies under the Gap, Banana Republic, Old Navy, Piperlime and Athleta brands. In the 2008 fiscal year, its sales were US$14.5 billion.

Gap operates more than 3,100 stores in the US, UK and Japan. In addition, it is expanding through franchise agreements in Asia, Europe, Latin America and the Middle East.

MINT shares closed yesterday on the SET at 11.10 baht, down 20 satang, in trade worth 65.03 million baht.