Gap plans to close all stores in Ireland and the UK and focus on online sales

According to foreign media reports, Gap plans to close all its stores in the UK and Ireland , and plans to implement it in stages between the end of August and the end of September. Due to the expiration of the lease, 19 stores were closed this month, and the company is also planning to sell its stores in France and Italy.

In fact, as early as last year, some people learned that Gap was conducting a strategic assessment of its European business and speculated that it might close Gap stores in the UK, France, Italy, and Ireland. Sure enough, the speculation was verified. Its spokesperson said that the store closure plan was not a temporary decision, but a decision made after long-term consideration and based on the strategic assessment of European business . But it is conceivable that the impact of the epidemic must also be an important reason.

Currently, Gap is still negotiating with FIB to take over all company-operated Gap stores in France by October, and negotiations with Italy are also proceeding in an orderly manner. However, closing stores in the UK and Ireland does not mean that Gap has given up the UK and Irish markets, but only shifted its focus to online sales, strengthened its comprehensive development in the field of e-commerce, and always maintained its presence in Europe.

The picture is a screenshot of Gap's official website

According to previous plans, by the end of 2023, Gap will open about 80% of its stores outside shopping malls, and its online revenue is expected to exceed 50%.

Gap is one of the largest clothing companies in the United States. It was founded in 1969 and owns five brands including Gap and Banana. It is deeply loved by the American public for its reasonable prices and simple styles. With the expansion of scale and the growth of personnel, it has now become a large multinational company. It has stores in many places in my country, including Beijing and Chengdu. In March this year, it was criticized by consumers for issuing a statement of "boycotting Xinjiang cotton", which affected the sales of its products in my country.