The brand american apparel Gap will close eight of its 28 shops in France, she said Thursday, confirming media reports. This fits into the framework of the closure of 230 points of sale throughout the world, that the group had announced at the beginning of 2019.
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“In February of 2019, we announced the closure of approximately 230 stores Gap throughout the globe over the next two years. In France, we announced the closure of eight stores and we continue to focus on the development of a profitable and sustainable on the market”, said Tuesday the group in response to information of the daily newspaper The World . According to the newspaper, by 2020, the Gap will close its points of sale the parisian Champs-Elysées, boulevard des Capucines, to the rue de Rivoli or the boulevard Saint-Michel.
“Revitalization of the brand,”
“Our commitment is to quickly take care, be thoughtful and decisive in stores that are not performing or who do not fit into our future vision of the brand Gap. We are convinced that these closures will strengthen the health of the fleet and will be the basis most appropriate to the revitalization of the brand,” adds the group in its statement. The chain, which is present in forty countries, implements for several months a comprehensive restructuring, including splitting into two separate companies listed separately on the stock Exchange.
The goal of the Gap-which has fallen behind in online commerce and also suffer from the competition of H&M and Zara – is to save $ 90 million per year. The spin-off proposal intends to distinguish the brand Old Navy, which has made it only last year a turnover of 8 billion dollars, chains Gap, Banana Republic, Athleta and Hill City, with cumulative sales reaching $ 9 billion.
