Next fashion to operate the GAP brand in Ireland
Next fashion to operate the GAP brand in Ireland.
In Irish fashion news, American fashion house GAP have just announced a deal to sell their clothing through Next stores. This applies to outlets here in Ireland and across the UK. Next has announced it has signed a deal with Gap to run their business in Ireland as a franchise partner.
Gap was founded in 1969 by Donald Fisher & Doris F. Fisher
This agreement between both fashion houses is a joint venture to operate Gap’s e-commerce business across the Next Total Platform.
This includes their online site for fashion brands which authorises them to astraddle off Next’s own e-commerce expertise.
Next will also host Gap-branded shop-in-shop concessions at certain retail stores across Ireland & the UK that will offer click-and-collections for online customers. This is expected to be available starting in 2022.
NEXT were founded in Leeds in UK in 1864.
According to the new agreement, Next will own a 51% majority of the joint venture. Gap Inc will hold 49% shares. Earlier this year Gap announced it will shut down all of their stores both in Ireland and the UK.
Gap also announced they will continue to operate their online digital presence to UK customers given the continued growth of business in this area.
NEXT turned over £3.2 billion pounds in 2021
According to paperwork filed on the UK companies register, for year-end 1st February 2019 to 1 February 2020, Gap’s UK division reported £3.27 million of impairment charges on underperforming stores. This saw with sales fall from 9.5% to £195.1 million and producing an operating loss of £40.7 million.
In a media statement surrounding this new joint venture between GAP and Next, chief executive officer for Next, Lord Wolfson said “Next is delighted at the prospect of its Total Platform supporting GAP on the next stage of development of their world-renowned brand in the UK and Ireland.”
NEXT operate 17 stores in Ireland
In reply, President of Gap Global Mark Breitbard added: “Gap is partnering with Next, one of the UK’s leading online clothing retailers, to amplify our omni-channel business and meet our customers in UK & Ireland where they are shopping now.”
Next fashion to operate the GAP brand in Ireland : Irish fashion news