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Analysis: Is there a future for Gap in Asia?

Gap has just announced the closure of 225 stores globally by 2024 in response to challenging conditions arising from the COVID-19 pandemic. In addition, it is reportedly considering exiting its company-owned operations in Europe next year, which covers stores in the UK, Ireland, France and Italy. Ideally, Gap wants to shift its company-owned stores in Europe to a franchised model – it already operates around 400 franchise stores in 35 countries. But given the brand’s underperformance over ar