Even a giant of fashion chains like Gap ended up being highly affected by the consumer’s crisis due to the pandemic. The Gap group has decided to shut down all the European stores recently opened in France, Italy and the United Kingdom. According to the French newspaper Le Monde, almost 120 stores are affected by this plan, which is expected to come into full effect in July 2021. To cope with their financial difficulties, the clothing brand already downsized on the continent last year. In France in particular, when the group announced the closure of 8 of its 28 stores, as part of a program that included the closure of 230 stores all over the world, that saved them 90 million dollars. But the Covid-19 emergency and the restrictive measures around the world increased the group’s sales slump. In the second quarter of the year, Gap reported a loss of 62 million euros. However, the stock market share of the Gap group continues to grow after the announcement of the partnership with Kanye West, which will debut in 2021 and will include items for men, women and children.
Gap opened his first store in San Francisco in 1969 to 1950 on Ocean Avenue, by a young couple who initially sold jeans, cassette tapes and records. In 1987, the first Gap store outside the United States opened in London and then in France in 1993, inside the historic Lafayette warehouses, while in 2000 it was the turn of Italy, under the arcades of Corso Vittorio Emanuele. Now the “fans” of the brand in Europe can only shop online, like the upcoming YZYxGAP collection.
Gap opened his first store in San Francisco in 1969 to 1950 on Ocean Avenue, by a young couple who initially sold jeans, cassette tapes and records. In 1987, the first Gap store outside the United States opened in London and then in France in 1993, inside the historic Lafayette warehouses, while in 2000 it was the turn of Italy, under the arcades of Corso Vittorio Emanuele. Now the “fans” of the brand in Europe can only shop online, like the upcoming YZYxGAP collection.
