Gap is considering whether there is a future for its store chain in the UK and Europe, or if it will be better served to operate wholly via franchisees or other third parties. Its distribution centre in Rugby is also at risk of closure. The standing of the Gap brand has faded somewhat in recent years and this latest move has echoes of the closure of the Banana Republic UK store chain in 2019.
“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 global operations for Gap.
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