PRESS: US clothes retailer Gap to leave Russia completely

MOSCOW, Nov 2 (PRIME) -- Gap, one of the largest clothes retailer in the U.S., will leave Russia and close all its stores, daily Izvestiya reported on Wednesday quoting CORE.XP consulting company and other real estate market sources.

“One of the largest U.S. clothes retailers Gap is leaving Russia completely and closing all of its stores … Experts say that this is not just because of the special military operation, the retail chain had problems generating revenue even before February as the brand is not popular among Russians,” the daily reported.

Nadezhda Tsvetkova, director and head of the commercial property renting department at CORE.XP, told Izvestiya that Gap owns 11 stores in Russia, with 10 of them located in Moscow and one in St. Petersburg. All of them were operating at the moment of publishing.

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