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Gap closes its stores in Europe

2020-10-21T08:21:51.117Z

In difficulty, the American brand should thus separate from 120 stores, reports Le Monde.Gap leaves the Old Continent. Present in France, but also in Italy and the United Kingdom, the American brand will close all its stores in Europe, according to Le Monde . In total, nearly 120 points of sale are affected by this plan, which should be effective in July 2021. To face financial difficulties, the clothing brand had already downsized on the continent. In France in particular, where the



Gap leaves the Old Continent.

Present in France, but also in Italy and the United Kingdom, the American brand will close all its stores in Europe, according to

Le Monde

.

In total, nearly 120 points of sale are affected by this plan, which should be effective in July 2021.

To face financial difficulties, the clothing brand had already downsized on the continent.

In France in particular, where the group announced last year the closure of 8 of its 28 stores.

In total, the group had undertaken to part with 230 points of sale.

A choice which should then enable it to "

strengthen the health of the fleet and serve as a more appropriate basis for revitalizing the brand

".

The sportswear specialist then announced its goal of achieving $ 90 million in savings per year.

But the Covid-19 and the various restrictive measures across the world have completed plunging sales of the group.

In the second quarter, Gap deplored losses of 62 million euros.

Source: lefigaro

All business articles on 2020-10-21

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