GAP shuts down in Israel

gap, mall, shopping, retail

Gottex Brands has announced that all GAP stores in Israel will close during next year.

Fashion brand GAP, which has been weakening globally, is being shut down in Israel. Gottex Brands, better known as Zara Group Israel, announced today that it had decided to close all branches of the brand in Israel during next year.

The group, run by Joey Schwebel who also owns half the shares in it, has not succeeded in making the brand popular in Israel. One factor is that the chain's high prices were an obstacle to contending with the competition. The result has been low sales and loss-making stores.

Gottex Brands said it would make an effort to find alternative jobs for the chain's employees within the group.

Published by Globes [online], Israel business news - www.globes-online.com - on December 29, 2016

© Copyright of Globes Publisher Itonut (1983) Ltd. 2016

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gap, mall, shopping, retail
gap, mall, shopping, retail
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