BRAZIL. GAP IS LOOKING FOR A NEW FRANCHISE PARTNER

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23 May 2017 à 19h28

Updated on 10 May 2019 à 17h47

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1 minute

Publication: 23 May 2017 à 19h28, Updated on 10 May 2019 à 17h47

Reading time: 1 minute

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Publication

23 May 2017 à 19h28

Updated on 10 May 2019 à 17h47

Reading time

1 minute

Publication: 23 May 2017 à 19h28, Updated on 10 May 2019 à 17h47

Reading time: 1 minute

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As part of a reorganisation of debt, the Brazilian fashion retailer “GEP” (91 stores, net sales of €116 million in 2016) will have to sell the exclusive franchising rights of Gap in Brazil and all its brands within three years, i.e. Luigi Bertolli, Emme, Cori and Offashion. Meanwhile, GEP will still open four Luigi Bertolli stores in 2018 (investment of €350,000 each) and one Cori store (investment of €150,000). GEP blamed high rental values at malls and crisis that curbed consumer spending...

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