The British clothing retailer Next has struck a deal with Gap to run its business in the UK and Ireland, months after the US chain confirmed it was shutting all its high street stores in those countries.
The announcement came after GAP announced it was closing all 81 stores and moving to an online-only operation in the two European countries.
Next will operate Gap’s online shopping business, host branded Gap concessions in selected retail locations, and offer “extensive” click-and-collect options for online shoppers.
Next has about 500 retail stores in the UK and Ireland.
The franchise deal will operate as a joint venture, with Next controlling a 51% stake, and shoppers will be able to buy Gap clothing via Next from the beginning of 2022.
“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,” said Mark Breitbard, the chief executive of Gap Global.
Next, which is recovering strongly from the pandemic, with shoppers flocking back to the high street since it reopened stores this year, said the deal would “allow Gap to operate its business in the UK and Ireland in a more efficient partner model”.
Next is the UK’s biggest internet clothing retailer, ahead Asos and Boohoo.
It comes a year after Next struck a similar joint venture with Victoria’s Secret to run the US lingerie firm’s struggling UK business.