Looks like the retail market isn’t doing so well for some! Just recently, popular American apparel brand Gap and Banana Republic announced that they are soon closing down their stores in Malaysia.
Upon hearing this news, Malaysians are pretty sad to see them go. However, this didn’t come as a surprise to some others because other countries are apparently going through the same thing too! It was reported that Gap Inc. saw a drop in sales and decided to shut down their stores in other countries, and it looks like Malaysia was not spared. Seems that it’ll be really hard to find these brands soon!
Well, due to the closing of their stores in Malaysia, Gap and Banana Republic are running massive sales to clear out all their stock! So get ’em while you still can.
This is where the clearance sales are happening:
1. Gap @ Gardens Mall & 1 Utama Shopping Mall
2. Banana Republic @ Gardens Mall & KLCC
Gap had shut down their stores on 4 February 2018 in Queensbay Mall and on 7 February 2018 in Pavillion. They have yet to release the exact dates of closing for the stores in Gardens and 1 Utama, but it’s already announced that they are closing SOON. And judging from the huge clearance sales they are giving out, it’s gonna be only a quick matter of time!
Last year, Gap had experienced a drop by 1% in sales while Banana Republic experienced 5%. The parent company had announced that over 200 Gap and Banana Republic stores will be closing down due to bad sales.
Gap Inc. will continue to focus on its other two retailers, Old Navy and Athleta, since these two brands are still doing well in sales.
So guys, if you want to get those last pieces of clothing, you better do it quick!
Also read: H&M Announces They Will Be Closing More Physical Stores Due to Declining Sales
