Gap to shutter Piperlime brand

Gap (NYSE:GPS) announced it will shutter its primarily online designer brand Piperlime.

The brand's annual sales were less than $100 million, accounting for less than 1 percent of Gap's annual revenue, reported Bloomberg. The company did not report the costs of the shutdown, but said the closure will be completed by the end of April.

Piperlime launched in 2006 as an online shoe store before transforming into a boutique apparel website featuring designer brands. The brand even opened a brick-and-mortar store in Manhattan in 2012.

Less than six months ago, Piperlime unveiled a website makeover that included a platform for social shopping and the first-ever Piper Collection.

The decision comes as Gap has posted some weak sales and wants to direct its attention to boosting profits at Gap, Old Navy, Banana Republic, Athleta and Intermix. It also plans to continue investing in e-commerce operations, reported the Wall Street Journal.

Gap announced an expansion of its omnichannel initiatives just before the holidays, which included online wish lists for shoppers to curate their most-wanted items from across all five of the company's brands. Also, last spring Gap was one of several partners to launch a test with Pinterest that allows promoted pins to show up in the social media's search and category feeds.

For more:
-See this Bloomberg article
-See this Wall Street Journal article

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