Gap in talks with Hermione People and Brands for French partnership



As part of its 2023 Power Plan, Gap recently began a strategic review of the company-operated business in Europe last year with the goal of finding new, more cost-effective ways to maintain a presence and serve customers in Europe. It has identified and started negotiations with Hermione People and Brands, the retail branch of the FIB Group, to take over Gap stores in France.

In Italy too, it is in discussions with a partner for potential acquisition of its stores.

It conducted an extensive evaluation of potential partners for its business in France, Italy, Ireland and the United Kingdom. During this process, it became clear that the brand would likely have a different outcome in each market, Gap said in a press release.

In the United Kingdom and Europe, the company will maintain its Gap online business. The e-commerce business continues to grow and it wants to meet its customers where they are shopping.

However, due to market dynamics in the United Kingdom and the Republic of Ireland, the company plans to close all company-operated Gap Specialty and Gap Outlet stores in a phased manner from the end of August till September end this year.

Gap has been serving UK customers since 1987 and Irish consumers since 2006. We are keen to maintain our presence in these markets.

Fibre2Fashion News Desk (DS)

Gap recently began a strategic review of the company-operated business in Europe last year with the goal of finding new, more cost-effective ways to maintain a presence and serve customers in Europe. It has identified and started negotiations with Hermione People and Brands, the retail branch of the FIB Group, to take over Gap stores in France.





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