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In the statement, Gap Inc. CEO Art Peck said, "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." He also thanked Piperlime's "fashion-focused, loyal customers" and "dedicated employees."
No specific reason was given for the decision to close Piperlime, but it's obvious that the retailer hasn't seen much buzz or press in recent years. Its contemporary merchandise mix—brands like Frye, BCBG, Tibi, and Michael Kors—isn't cutting-edge or exclusive; shoppers can browse similar assortments at other e-commerce giants such as Nordstrom or Shopbop. Piperlime is also the smallest brand in the Gap portfolio, eclipsed by moneymakers like Old Navy and up-and-comers like Athleta. Anticipate liquidation sales.
· Gap Inc. to Close Smallest Brand, Piperlime [Gap Inc.]
· Piperlime Got the Makeover It So Desperately Needed [Racked]