Gap Inc. said it plans to close all 81 of its Gap Specialty and Gap Outlet stores in the United Kingdom and the Republic of Ireland as part of a strategic review of the company-operated business in Europe.
The stores will be closed in a phased manner from the end of August through the end of September 2021. The company will maintain the Gap online business in the United Kingdom and Europe. Gap has served customers in the United Kingdom since 1987 and the Republic of Ireland since 2006. Gap said in a statement, “We are keen to maintain our presence in these markets.”
In other countries, as part of the review that’s part of its 2023 Power Plan, the company is in negotiations with Hermione People and Brands, the retail branch of FIB Group, to take over Gap stores in France. In Italy, Gap is in discussions with a partner for the potential acquisition of the Gap stores.
Gap indicated that franchised operations overseas will continue.”Franchise partnerships are a strong and cost-effective way to amplify the brand in international markets. Through franchise, Gap brand reaches customers in 35 countries with more than 460 stores, 14 standalone e-commerce sites and more than 160 multi-channel or pureplay e-commerce sites,” said the company.
Photo courtesy Gap
