Next and Gap have finalised an agreement which allows Next to manage Gap’s business in the UK and Eire.
The deal sees the two companies form a joint venture, with Next operating Gap’s ecommerce, Gap-branded shop in shops in retailers and offer click and collect services to online customers from 2022.
Next plc will also own 51% of the joint venture, with Gap owning the rest, reported Fashion United.
“Gap is partnering with Next, one of the UK’s leading online clothing retailers, to amplify our omnichannel business and meet our customers in the UK and Ireland where they are shopping now,” commented Mark Breitbard, ceo and president of Gap Global.
The move follows Gap’s decision to close all of its UK and Ireland stores to focus on an online only strategy.
Simon Wolfson, ceo of Next, added: “Next is delighted at the prospect of its Total Platform supporting Gap on the next stage of development of their world-renowned brand in the UK and Ireland.”
Gap will join Next’s portfolio of more than 700 fashion, home and beauty brands selling through its ecommerce platform internationally.