None
EN
Gap bucks retail headwinds with massive China expansion amid localisation drive
['Zhu Wenqian']
News - South China Morning Post
Amid widespread store closures by foreign fast-fashion players in China, US apparel brand Gap is defying industry headwinds.
It plans to open 50 new stores in mainland China this year and return to Hong Kong by year’s end, following a localisation overhaul that has attracted more Chinese consumers.
With Gap having gone through a period of contraction and store closures, the American fashion brand is striving to rebuild its growth track in China.
Since Chinese e-commerce operator Baozun took over Gap’s mainland China, Hong Kong and Macau operations in early 2023, Gap has pursued its “China-for-China” localisation strategy and recorded its first profit in the fourth quarter of last year.
Gap posted 20 per cent same‑store sales growth in China for the first quarter, a record high.