CEO Richard Dickson's plans to push ahead with reinventing Gap's brands, mainly Old Navy, have helped drive consumer interest in its apparel and accessories.
In a regulatory filing Thursday, the San Francisco-based chain said employees in its headquarters as well as upper field positions such as regional store managers, will be impacted.
Paris-based fashion house Balenciaga has ended ties with rapper Kanye West. "Balenciaga has no longer any relationship nor any plans for future projects related to this artist," Balenciaga's parent company Kering told WWD.
The job cuts, confirmed by a company spokesperson, follow years of struggle at the San Francisco-based retailer, which operates its namesake stores as well as the Old Navy, Banana Republic and Athleta chains.
Chairman Bob Martin is taking over immediately as CEO on an interim basis, according to a statement.
Reliance Retail would be using a mix of exclusive brand stores, multi-brand store expressions and digital commerce platforms to bring Gap's latest offerings to Indian consumers.
Kohl’s also said it would suspend its share repurchase program, evaluate its dividend plan and draw down $1 billion from an existing credit line, joining a growing list of companies seeking to shore up their cash reserves to weather the financial hit from the health crisis.
Relaxing local sourcing norms will encourage more retailers, while local producers will be forced to be competitive in the global marketplace of sourcing
Things really didn’t work out with mandatory local sourcing of retail products. That possibly might force a government rethink for multi-brand retailing
Verticalisation of the textile segment, promising prospects of the branded apparel segment and a healthy order book in the engineering segment reinforce our confidence in the stock.
Gap entered the Indian market three years ago, but this is the first time the clothing company is introducing a shop-in-shop format for its products.
All the retail formats (Aeropostale, Sephora, GAP etc) are going as per plans. At the store level, profitability is good, like-to-like growth is healthy too, said Sanjay Lalbhai, CMD, Arvind.
The company has added eight stores for brands like GAP and Sephora and one for Aerospatale in the current year, which will become profitable in next financial year.
Gap, Inc. announces the closure of 175 stores from its namesake brand
American clothing brand GAP has arrived in India. With over 1,700 stores worldwide, this 45-year old US retailer plans to open 40 stores in India over the next five years. Nayantara Rai of Prime Property visited GAP's first outlet in New Delhi.
Arvind Lifestyle brand, in an exclusive partnership with GAP, will be opening its first GAP store in the capital city.
Vardhman Textiles is among India's largest manufacturers of yarn, sewing threads & acrylic fiber. It manufactures for brands like GAP, H&M, Uniqlo, Benetton, Wills, Van Heusen, and Peter England.
President Barack Obama's visit to Myanmar for an economic summit this week demonstrates how far that state has come from its darkest autocratic days, and how much farther it has to go in order to avoid facing sanctions again.
The move comes one day after Apple announced the Apple Watch - three lines of smart watches to be available in early 2015.
American apparel retailer Gap, popular for its khakhi pants and smart denims, is making its Indian debut. The USD 16 billion revenue company has tied up with Arvind lifestyle brands, the subsidiary of Gujarat-based textile and apparel giant Arvind. The plan is to roll out stores from mid-2015 with a target of 40 stores.
The brand plans to open about 40 franchise-operated Gap stores in India, the company said in a statement. The first two Gap outlets are expected to open in Mumbai and Delhi by next year.
Gap has been looking to reduce its dependence on the North American market, which generates more than three-quarters of its sales.
To ensure the situation didn't spiral out of control, Gap asked Arsalan Iftikhar (@TheMuslimGuy), who had alerted them about the defaced ad, to send a direct message which would enable them to talk privately about the issue and share the details of the location of the billboard to remove the racist graffiti.
The competition between old rivals DLF and Unitech is going to get fiercer. Both are opening malls bang opposite each other in sector 18, Noida, the area‘s retail hotspot. There is a mall here developed by the deceased liquor baron Ponty Chadha‘s Wave Group.
Economic uncertainty drags US retail sales