In $40M Deal, Gap Sells Greater China Business to Ecommerce Provider Baozun
Retail TouchPoints
NOVEMBER 9, 2022
Gap will sell its Gap Greater China (GGC) business to Shanghai-based ecommerce solutions provider Baozun in a $40 million all-cash transaction. The sale is the latest move by the retailer to scale down during a difficult year that included cutting 500 corporate positions in September 2022, including roles at main offices in Asia. Baozun recently established Baozun Brand Management (BBM), through which it will use its technology portfolio to cultivate brands.
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