March 1, 2007
GAP failed on Forth & Towne concept
18 months ago, GAP came up with a novel concept: a Forth and Towne store.
Today, it looks like GAP Inc. will have to give up this idea, because the concept as such was not demonstrating enough potential to be able to bring in returns on the investment.
Instead, GAP will now focus on trying to turn around its GAP and its Old Navy brands, so that shareholder value would be increased.
All the Forth and Towne stores will be closed by the end of June 2007, a spokesman said.
“I want to thank the talented Forth & Towne team for their hard work in bringing this brand to life,” said Gary Muto, President of Forth & Towne.
This post was contributed
by Dipa Suresh.
Hi, I am a freelance writer, and I am someone who keeps up to date on all the happenings around the world. Having this opportunity to blog is a great chance for me to share my views with others of similar taste.
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