American fashion brand Gap plans to shut down Piperlime, its predominantly online designer-fashion unit, as Art Peck prepares to take the reins as CEO next month. The company didn’t specify the costs of shutdown, scheduled to be completed by the end of April.
Piperlime’s annual sales were under $100 million, accounting for less than 1% of its parent company’s. Gap introduced Piperlime in 2006 as an online shoe store before turning it into a boutique-style apparel website that featured designer brands and celebrity stylists. The unit had even forayed into the brick-and-mortar world in 2012 with a store in Manhattan.
“We plan to keep on pushing new ideas and look forward to seeing how we can apply what we’ve learned to the rest of the company,” Peck states.