Next to run Gap’s business in UK and Ireland

Franchise deal will operate as joint venture, with British retailer having 51% stake and US firm 49% 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. Under the terms of the agreement, 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. Continue reading...