Gap to sell stores in France and Italy to reduce costs in Europe

Gap Inc. retail store in La Jolla, CA, May 17, 2017. (MikeBlake / Reuters)

Gap is in talks with partners to sell its stores in Italy and France, a US apparel chain said Wednesday. It aims to limit its online presence in Europe and save money.

Retailers also plan to close all Gap Specialty Stores and Gap Outlet Stores in the United Kingdom and the Republic of Ireland by the end of September.

Old Navy brand owners say they are discussing buying a French store with FIB Group retailer Hermione People and Brands, while an unnamed partner is discussing buying an Italian store. I did.

This move was made possible by Gap competing for market share with apparel brands such as Zara and H & M. The coronavirus pandemic is exacerbating the problem by curbing retail sales around the world.

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