Gap Closing 200 Stores Worldwide
Shoppers looking to fall into the Gap will have fewer outlets to turn to in the next few years.
According to the Independent, the massive brand is cutting back: Gap CEO Glenn Murphy announced in a live-streamed consumer conference that the company will close 200 of its 900 worldwide stores by 2013.
The decision is reportedly part of streamlining the entire brand, which Murphy described as "a huge opportunity” for the company “to fill in with trend-right products … and focus on new category development."
Gap devotees will recognize the company’s most recent new category developments in its 1969 denim collection and black pants capsule collection.
"Gap is most successful when it finds its place within the season's trends," said Anita Borzyszkowska, Gap’s head of global PR. "The flare and the wide-leg pants are good examples. They are the sort of pieces that could appeal regardless of how closely you follow trends."
Get the full story from the Independent.
And see who just bought up 35 million shares of Gap Inc.
