One of the largest American clothing retailers Gap has decided to completely leave the Russian market. This was told by representatives of the market and employees of the consulting company CORE.XP (ex. CBRE).
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How write On Wednesday, November 2, Izvestia, citing sources, Gap experienced difficulties with activities in Russia even before the start of the Russian special operation in Ukraine, which caused the reduction in the presence of many foreign brands on the Russian market. Gap was not very popular in Russia even before that.
For this reason, sources say, the company does not plan to sell its stores in Russia – they will simply be closed. Currently, Gap has 11 operating stores in the Russian Federation – 10 in Moscow and one in St. Petersburg.
Official comments on this issue from Gap have not yet been received.
Earlier it was reported that the Spanish group Inditex, one of the world’s largest clothing retailers (Zara, Massimo Dutti, Pull&Bear, Bershka, Oysho and Stradivarius), is negotiating on the sale of their Russian stores Lebanese group Azadea. Prior to the start of the Russian special operation in Ukraine, Russia was the largest international market for Inditex.