Gap held its first round of pitches last January. JWT and Ogilvy & Mather also participated.
Both Y&R and MediaCom declined to comment.
However, a source close to the pitch said that Gap is planning to enter to China and Hong Kong this year, and will open stores in Hong Kong, Shanghai and Beijing at the end of the year.
Gap already has a huge franchise presence in Japan, as well as other markets in Asia including Singapore, Australia and the Philippines. It is a late comer to China and Hong Kong where other popular fast-fashion chains including Zara, H&M and Uniqlo have been active for several years.