Banana Republic Announces Closure In All UK Stores
In May this year, chief financial officer and executive vice president of Gap group
Sabrina Simmons
It points out that it will strive to win the key strategic market for the group and believe in the structural superiority of the group.
In addition to closing the Banana Republic in the UK's 8 stores before the end of fiscal 2016, the group will close Old Navy's 53 stores in Japan by the end of the year.
Banana Republic sales fell 9% in the same store in September.
Banana Republic currently has more than 650 Direct stores in North America, Japan and Europe, with more than 100 franchises in more than 20 countries and websites in 90 countries.
A few days ago
Gap
The group said in a statement that it would close its high-end brand Banana Republic in all 8 stores in the UK.
It is learnt that closing down UK stores is a step towards streamlining the group's structure.
And the United States
Retail store
Rents are generally high in the international market and will require a lot of investment to build brand awareness abroad.
A company spokesman said: "after a series of market assessments, the group finally decided to close 8 stores in the UK by the end of fiscal year 2016, but still retain the brand network in the UK area."
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