US-based clothing and accessories retailer Gap has outlined a broad expansion plans for its portfolio in 2013 to leverage on the strong performance of its brands in the previous fiscal.

The retailer will launch a total of company-owned 85 outlets over the year as well as 75 franchised outlets during the same period.

Gap chairman and chief executive officer Glenn Murphy stated that the company’s brands have struck the chord with customers, which is reflected in its financial performance for the year – citing the 8% increase in overall sales.

The company has attributed its positive fiscal 2012 to improvement in its brands performance alongside extensive market expansion that included launch of 59 company-owned outlets and 85 Gap and Banana Republic stores.

In its home market of US, it has grossed $10.4bn in net sales for the full year as against $9.93bn for the previous year.

Major contributor of the increase was the Old Navy brand with $4.9bn net sales for the full year compared to $4.6bn in 2011.

"We enter 2013 focused on leveraging our global brands to gain more market share and continuing to increase shareholder value," added Murphy.

The expansion plan is primarily focused on enhancing its presence in the Asia-Pacific region with 20 Old Navy-branded outlets planned for Japanese market alongside 35 Gap outlets in China.

Remainder of the proposed stores will be the retailer’s women’s active apparel brand Athleta; 30 of the stores are expected to be rolled out in 2013.

Gap’s franchised store count will reach 387, following the unveiling of the planned stores during the year.