Home / Knowledge / News / Apparel/Garments / Apparel marketer Gap to close smallest brand Piperlime
Apparel marketer Gap to close smallest brand Piperlime
30
Jan '15
US based apparel marketer Gap Inc said it will close its Piperlime brand, including the online platform and the only store in New York, by the end of the first quarter of fiscal year 2015.

The Piperlime brand is by far the smallest of the company’s portfolio with yearly revenue below $100 million, representing less than 1 per cent of Gap Inc.’s total revenue base of over $16 billion.

Going into the new fiscal year, the marketer will focus on its portfolio of five brands, Gap, Old Navy, Banana Republic, Athleta and Intermix, as well as digital and global growth.

According to Gap, it is committed to executing against its long-term strategy of driving profitable top line sales, powered by its global brands and innovative ability to reach customers in new ways.

“We are incredibly grateful to our fashion-focused, loyal customers, and proud of our dedicated employees who have been working hard to test out new ideas,” said incoming CEO Art Peck.

He added, “We plan to keep on pushing new ideas and look forward to seeing how we can apply what we have learned to the rest of the company as we continue to bring great shopping experiences.”

“The wind-down costs associated with the decision are not material to the company’s financials,” Gap observed.

Gap Inc. reported fiscal year 2013 net sales at $16.1 billion and its brands are available in more than 90 countries through 3,200 company-operated stores, over 400 franchise stores and e-commerce sites. (AR)

Fibre2fashion News Desk - India

Must ReadView All

Neelesh Hundekari speaking at the event. Courtesy: Subir Ghosh

Textiles | On 27th May 2017

Fabric of Change initiative announces €250000 scaling fund

The Fabric of Change initiative of Ashoka and the C&A Foundation is...

Pakistan's Finance Minister Mohammad Ishaq Dar presenting Budget 2017-18 in National Assembly in Islamabad on May 26. Courtesy: PID, Pakistan

Textiles | On 27th May 2017

Pakistan Budget 2017-18 proposes 4 new measures

To support the textile sector in Pakistan, finance minister Mohammad...

Textiles | On 27th May 2017

Indian exports can touch $325 bn in 2017-18: FIEO

Indian exports are on upward trend in last few months as the country...

Interviews View All

Prabu Mohanram
Balavigna Weaving Mills Pvt Ltd

The biggest challenge that the weaving industry faces is high price

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search