The Gap drops Piperlime
In 1969 Don Fisher started The Gap for a simple reason. He could not find jeans that fit (sounds familiar). Today The Gap consists of 6 brands, almost 3,700 stores, 150,000 employees and more than $16 billion in revenue. Soon enough The Gap will be back down to 5 brands.
Gap announced that is will be dropping its Piperlime brand and focusing on continuing to grow its Athleta brand, a direct competitor to industry leader Lululemon, along with reinvigorating its namesake The Gap, Banana Republic and Old Navy brands. Piperlime, with only $100 million in revenues represents a tiny drop in the bucket for The Gap. Hard to believe that a $100 brand can be considered a throw away, drop in the bucket.
This isn’t the first time The Gap has closed or sold off another brand. Anyone remember Hemisphere or Forth & Towne? Or that The Gap used to own Pottery Barn?