Recent reports that leading apparel retailer Gap Inc is weighing options, including a potential sale of its business in the Chinese mainland, indicate how the fierce competition among fast-fashion brands is pushing them to further expand their physical presence and enhance digital-powered retail ecosystems.
The San Francisco-based clothing retailer is working with an adviser to study various options and has reached out to prospective suitors to gauge interest for the business, said sources, according to Bloomberg.
The firm, which owns Banana Republic and its namesake Gap brands, entered the Chinese mainland in 2010 and has faced mounting pressure from competitors like Japanese clothing group Fast Retailing Co Ltd, which owns Uniqlo, and Spanish fast-fashion brands such as Zara from Inditex SA.
Fast fashion brands find the going tough in China By Wang Zhuoqiong | China Daily | Updated: 2021-03-13 07:25 Share CLOSE A retail shop of Gap Inc in Changzhou, Jiangsu province. [Photo by Wang Qiming/for China Daily]
Recent reports that leading apparel retailer Gap Inc is weighing options, including a potential sale of its business in the Chinese mainland, indicate how the fierce competition among fast-fashion brands is pushing them to further expand their physical presence and enhance digital-powered retail ecosystems.
The San Francisco-based clothing retailer is working with an adviser to study various options and has reached out to prospective suitors to gauge interest for the business, said sources, according to Bloomberg.
The owner of Zara is looking forward to “healthy” sales when shops eventually reopen after Covid-19 restrictions dragged down profits by 70 per cent.Inditex, which also owns the Massimo Dutti and
Inditex Group s FY20 online sales grow 77% fibre2fashion.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fibre2fashion.com Daily Mail and Mail on Sunday newspapers.