OVS takes over all Gap stores in Italy

Reuters reported on December 3 that Italian clothing retailer OVS has reached an agreement with American clothing group Gasto to take over and operate all 22 of Gasto’s stores in Italy, and plans to Expanded to 20 stores annually. The franchise agreement is for seven years and does not require any investment from OVS. The transaction is expected to be completed in February next year. </p