OVS to acquire 11 stores of Gap.

OVS, an Italian clothing retailer, agreed to acquire 11 stores of Gap, an apparel retail company. Financial terms were not disclosed. "The transfer of all the 11 Gap stores in Italy to OVS will allow Gap to operate its business through a more capital efficient partner model and to benefit from the expertise of OVS. The decision to transfer our Gap business is an example of how we are partnering to amplify and grow our brand in international markets," Mark Breitbard, GAP President and CEO.