Gap Inc. is making serious changes to its catalog as the company prepares for Art Peck to take his place as CEO next month. First item on the chopping block? Piperlime. The retailer has decided to shut down its boutique after less than 10 years in business by the end of April.
According to Bloomberg, Piperlime only contributed to less than 1 percent of Gap’s profits. Gap itself has been having trouble and the retailer is hoping to kick up the numbers for its more profitable endeavors like Intermix, Athleta, Gap, Old Navy and Banana Republic.
Piperlime sells clothes and accessories from contemporary and high-end brands as well as products from its namesake brand. Rag & Bone, Kate Spade, DVF, BCBGMaxAzria, Milly and Michael Kors are just a handful of some of the labels peddling wares on the site. Piperlime opened a stand-alone location in New York City’s SoHo district in 2012.
Sad to see Piperlime go, but we will definitely be watching the site for any going out of business deals.