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- Gap Inc. is moving away from the nation's malls. The San Francisco-based retailer, which was for decades a fixture at shopping malls around the country, said Thursday that it will be closing 220 of its namesake Gap stores — or one-third of its store base — by early 2024.
www.cbsnews.com/news/gap-inc-exiting-malls-plans-to-shutter-350-stores-by-2024/
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- It failed to adapt. Image source, European Press Agency. Experts say that the chain, which began in San Francisco selling only Levi's and LP records, fell behind with fashion trends in recent years.
- Too many discounts. Image source, Getty Images. Whilst offering money off can be appealing for customers, Gap did it too often, says Natalie Berg. She thinks Gap customers had "promotional fatigue" from too many 50%-70% sale offers.
- Not distinctive enough. Retail experts also argue that Gap increasingly failed to stand out from the crowd and didn't keep up with changing trends across its core customer group.
- It had too many shops. Image source, Ben Birchall. Covid has accelerated the difficulties for many retailers, with many big chains closing stores and famous names such as Debenhams disappearing from the High Street completely.
Jul 2, 2021 · Fashions change, and Gap – which is to close all 81 of its UK branches by the end of September – ends its time on UK high streets as a store where few shoppers would consider buying at ticket price.
- Matthew Valentine
Jun 30, 2021 · US fashion giant Gap has confirmed it plans to close all its 81 stores in the UK and Ireland and go online-only. The firm said it would close all its stores "in a phased manner" between the end...
Jul 13, 2022 · Gap has tried several strategies to revitalize its flagship brand, including a partnership with Kanye West for a line of Yeezy-branded clothing. But the partnership hasn’t meaningfully lifted...
As Gap announces the closure all of its stores in the UK and Ireland, Olivia Petter reflects on what made the high street label a cult brand in the 1990s.
Jun 30, 2021 · US fashion brand Gap plans to close all 81 of its stores in the UK and Ireland and sell its clothes online only. The company said it would close its stores "in a phased manner" between the end of...
Jul 1, 2021 · Gap has confirmed it will close all 81 of its stores in the UK and Ireland, and become an online-only retailer. The US fashion brand will shut the stores in a phased manner, between late August...
