trending Market Intelligence /marketintelligence/en/news-insights/trending/31gkjoC7az3VdbLKyk2DEg2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Shutters down for all Gap stores in Israel in 2017

Commercial Real Estate: 2020 Review

Gauging Supply Chain Risk In Volatile Times

The Commercial Real Estate (CRE) Sector Feels the Impact of the Coronavirus

Credit Analytics Case Study Poundworld Retail Ltd

Shutters down for all Gap stores in Israel in 2017

U.S. apparel brand Gap will close its six remaining retail stores in Israel in 2017 due to major losses incurred by local franchisee Gottex Brands, as the label did not take flight there, Haaretz reported.

The Israeli publication cited an announcement from Gottex regarding the planned closures.

Gottex closed the Gap store at Be'er Sheva last year, and will progressively bring down the shutters at its remaining six stores in Israel over the next few months.

According to the report, Gap's operations in Israel were acquired by Gottex in 2012 from previous franchisee Elbit Imaging. After the takeover, the American label continued to face pricing competition from other retailers in the apparel market and failed to turn things around.

Sources quoted by the publication said the lack of action by the franchisee in terms of working out product management, pricing levels and marketing of the apparel label had contributed to its inability to make a splash in the Israeli retail market.