Oct 23, 2020
Gap considers closing its UK stores
US retailer Gap could close all of its own UK stores as it mulls whether to shift its operations to franchise-only in Europe. The retailer had 129 Gap branded stores in Europe at the end of July. "As we conduct the review, we will look at transferring elements of the business to interested third parties as part of a proposed partnership model expansion," said Mark Breitbard, head of Gap brand global. Many retailers have struggled to survive amid the crisis, according to the Centre for Retail Research. Even before the pandemic, Gap was fighting to revitalise itself after losing younger shoppers to cheaper fast fashion brands such as Zara, H&M and Forever 21 over a number of years.
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