Gap Inc. Opens First UK Shop-In-Shop On Oxford Street Through Joint Venture Agreement With NEXT Plc

Gap Inc. and NEXT Plc announced the opening of the first Gap-branded shop-in-shop within NEXT’s largest West End store on London’s Oxford Street, marking the first milestone of the joint venture franchise relationship between the two companies to manage Gap’s e-commerce business as well as Gap-branded shop-in-shops at NEXT locations. The location in central London cements Gap’s physical return to the British high street.

As the largest brand shop within the store, covering over 4,000 square feet of retail space, the Gap store embodies the brand’s reinvented approach to retail in the UK with an open, modern and minimal design. Customers can shop curated collections of elevated everyday essentials including denim, fleece, khakis, shirting and iconic logo product for women, men and kids. A customization shop offering embroidery, badging and monogramming will also be available to all Gap customers.

Officially announced in September 2021, the joint venture (”JV”) was formed to effectively grow the Gap business in the United Kingdom and Republic of Ireland through a strong local partnership. The joint venture is an important piece of Gap Inc.’s ‘partner to amplify’ strategy, which focuses on working with best-in-class companies who are experts in their markets to reach new and existing customers while supporting the business in a new and cost-effective way. As the leading UK online clothing retailer, NEXT Plc is capable of engaging customers with excellent customer experiences across powerful omni-channel platforms that extend Gap’s reach in market.

The Oxford Street opening is a major milestone within the first phase of the launch plan to re-establish Gap’s brick-and-mortar presence in the market, with work underway to migrate Gap’s e-commerce business to NEXT Total Platform as well as integrate strong operational capabilities including a comprehensive click-and-collect service, next-day delivery, and a variety of customer service options later this year.

“I am so excited at the coming together of these two iconic businesses to relaunch the Gap brand in the UK and Ireland, and in particular I’m thrilled at the opportunity to bring Gap’s Modern, American Optimism to our customers at our new London store at 120 Oxford Street,” said Jon Jeffrey, Managing Director of the JV.

“We look forward to continue growing the Gap business in the UK through our joint venture with NEXT Plc,” said Adrienne Gernand, Managing Director of International, Global Licensing and Wholesale at Gap Inc. “Partnering with market leading, omni-channel retailers like NEXT Plc allows us to amplify and deliver our relevant, purpose-driven brand to meet our customers in the UK and Ireland—and with greater speed, agility, and customer services than ever before.”
https://www.gapinc.com/en-us/articles/2022-1/03/gap-inc-opens-first-uk-shop-in-shop-on-oxford-stre

Related Posts

Walgreens Boots Alliance and McKesson Complete the Formation of German Wholesale Joint Venture

Walgreens Boots Alliance and McKesson Corporation announced the completion of their previously announced agreement to create a joint venture combining their respective pharmaceutical wholesale businesses in Germany, Alliance Healthcare Deutschland (AHD) and GEHE Pharma Handel (GEHE). WBA holds a 70 percent controlling equity interest in the joint venture and McKesson holds the remaining 30 percent interest. “At Walgreens Boots Alliance, we all look forward to working together with McKesson Corporation on this joint venture,” said Ornella Barra, co-chief operating officer, Walgreens Boots Alliance. “It is a very exciting step for our Pharmaceutical Wholesale Division and a unique chance for us to further develop innovative services to manufacturers and pharmacists in Germany.”

Gannett Announces Commitment Letter to Secure New Credit Facility to Refinance Existing Debt

The commitment letter provides for a new senior secured credit facility with funds managed by affiliates of Apollo of up to $900 million, to be comprised of an initial term loan facility of approximately $675 million, to be funded at the time of closing, and a delayed draw term loan facility of approximately $225 million, which will be available at the Company’s discretion at closing and during the six months following closing, subject to certain customary funding conditions. Net proceeds from the Term Loan Facility will be used to repay in full the outstanding principal of the Company’s five-year senior secured term loan facility maturing October 15, 2026, to purchase or redeem the 6.0% first lien notes due November 1, 2026 and to repurchase for cash up to 50% of the outstanding 2027 Notes. The Term Loan Facility will mature five years after the closing date and will bear interest at an annual rate equal to SOFR plus a margin of 5.0% with a floor of 150 basis points.

USPS Fourth-Quarter Service Performance Improvements Include Highest Performance Level in Marketing Mail Service in 5 Years

Quarter-to-date service performance data for July 1 through August 20 included: *First-Class Mail: Delivered 88.8 percent of First-Class Mail on time against the USPS service performance standard, an improvement of 1.3 percentage points from the third quarter. *Marketing Mail: Delivered 92.7 percent of Marketing Mail on time against the USPS service performance standard, an improvement of 1.7 percentage points from the third quarter. *Periodicals: Delivered 82.1 percent of Periodicals on time against the USPS service standard, an improvement of 2.9 percentage points from the third quarter. Additionally, for the week of August 14-20, the Postal Service achieved its highest level of service performance recorded for the Marketing Mail category in five years, matching a previous high (93.9%) recorded in August 2016.
Back To Top
×Close search
Search