US fashion brand Gap will sell its products in the UK and Ireland through a contract with Next after announcing the closure of its stores earlier this year.
The two companies have set up a joint venture to operate Gap’s e-commerce business across Next’s Total online platform and host Gap-branded “shop-in-shops” at selected retailers.
The venture, which is 51% owned by Next and 49% owned by Gap, will also offer click-and-collect options from 2022.
According to Gap, the transaction will allow it to operate in a “more efficient partner model” and will benefit from Next’s digital expertise, which continues to grow online sales despite reduced in-store transactions. You can do it.
Mark Breitbard, CEO of Gap Global, said the deal would allow the brand to “meet UK and Irish customers who are currently shopping.”
The next Chief Executive Officer, Sir Wolfson, said:
gap Announced earlier this year It was to close all 81 stores in the UK and Ireland.
After brands such as Topshop and Topman that are part of the collapsed retail empire, it was another blow to High Street. Arcadia -And department store chain Debenhams I closed the door before it was sold to the new owner as an online-only operation.
The Next-Gap partnership was announced as official figures showed an unexpected decline in retail sales last month, but fashion stores countered this trend with a 0.7% increase.
Stores have been hit by the long-term outage during the pandemic, and the shift to online sales is accelerating.
Latest official data on retail sales Published on friday Online accounted for 27.7% in August, compared to 19.7% in February 2020, just before the pandemic.
Gap arrangements with Next will come in a few months Then I got a 25% stake A small luxury rival, Reiss, where Next can also be seen providing warehousing and distribution services.
Next has also entered into a joint venture similar to Victoria’s Secret to operate the UK business of a US lingerie company.
Gap has agreed to a partnership to sell clothing through ties in the UK after the store closes.Business news
Source link Gap has agreed to a partnership to sell clothing through ties in the UK after the store closes.Business news