In Italy too, it is in discussions with a partner for potential acquisition of its stores.

It conducted an extensive evaluation of potential partners for its business in France, Italy, Ireland and the United Kingdom. During this process, it became clear that the brand would likely have a different outcome in each market, Gap said in a press release.

In the United Kingdom and Europe, the company will maintain its Gap online business. The e-commerce business continues to grow and it wants to meet its customers where they are shopping.

However, due to market dynamics in the United Kingdom and the Republic of Ireland, the company plans to close all company-operated Gap Specialty and Gap Outlet stores in a phased manner from the end of August till September end this year.

Gap has been serving UK customers since 1987 and Irish consumers since 2006, and is keen to maintain its presence in these markets.

Fibre2Fashion News Desk (DS)