Retail in Asia

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Gap names H&M exec as president of Old Navy brand

Gap Inc. on Monday named Stefan Larsson, 37, most recently head of global sales for H&M, as the new president of its Old Navy brand. He’ll start by the end of October, replacing Tom Wyatt, who, resigned in February.

Gap hopes Larsson, who worked at H&M for 15 years, can help as Old Navy grows abroad. The company said Old Navy is preparing to open its first store outside North America, in Japan, in July.

(Source: CNBC)