Gap is considering a departure from China

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22 March 2021 à 15h19

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1 minute

Publication: 22 March 2021 à 15h19

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Publication

22 March 2021 à 15h19

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1 minute

Publication: 22 March 2021 à 15h19

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In the three months to January 2021, struggling fashion retailer Gap reported sales of US$4.42 billion, down by 5%. E-commerce accounted for 46% of its business. According to Bloomberg, the company has mandated Morgan Stanley to evaluate a potential sale of Chinese business. The Gap Group (owner of Gap, Banana Republic and Old Navy stores) has been selling in China since 2010. The firm operates physical stores plus an online store on the Tmall marketplace (Alibaba).

In 2020, Gap cl

…
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