Gap to close Piperlime brand
Gap has announced plans to close its Piperlime brand, including the online platform and single store in New York, by the end of the first quarter of the financial year.
In a statement, the group said it wished to focus on its five core brands of Gap, Old Navy, Banana Republic, Athleta and Intermix, as well as digital and international growth.
Incoming Gap chief executive Art Peck said: “We are incredibly grateful to our fashion-focused, loyal customers, and proud of our dedicated employees who have been working hard to evolve the brand and test out new ideas. We plan to keep on pushing new ideas and look forward to seeing how we can apply what we’ve learned to the rest of the company as we continue to bring great products and shopping experiences to our customers.”
Piperlime is the smallest brand in Gap’s portfolio with yearly revenue below $100 million, less than 1% of the group’s total revenue of over $16 billion.
