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Post by livinginmedellin on Jun 22, 2016 11:08:21 GMT -5
The expensive dollar has led to GAP and Banana Republic deciding to close stores in Colombia. The devaluation of the peso against the dollar and rising inflation led to Superior Brands Holding, the Panamanian Group that owns the brands for Central America, the Caribbean and parts of South America, to take the decision to exit the Colombian market. GAP has a 500 meter store in El Tesoro mall in Medellín as well as a local store in Medellín plus two stores in Bogotá and one in Bucaramanga. "In the last year had high devaluation and import costs had a significant rise, coupled with inflation and high interest rates, "said Sergio Ignacio Soto, director of Fenalco Antioquia. The withdrawal of both brands adds to the closure of the department stores La Polar and Ripley from Chile. See (in Spanish): www.elcolombiano.com/negocios/gap-y-banana-republic-cierran-en-medellin-CC4433422
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Post by jabberwocky on Jun 22, 2016 11:22:38 GMT -5
I believe both brands are doing poorly in the US also, another favorite brand of Colombians ( although I don' think they have stores in Colombia) Aeropostale recently filed BK. Not sure about the rest of Colombia but Medellin has a pretty decent clothing manufacturer base in Itague - they make a lot of the jeans that get sold in Centro and other small stores in the outlying areas, a better fit than the imported jeans.
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Post by papitohead on Jun 23, 2016 10:33:05 GMT -5
Banana Republic will close to give ways to Arepa Republic.
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Post by dandl93 on Jun 23, 2016 11:11:04 GMT -5
Most Colombians that can afford cloths from these brand stores are buying thru Amazon and having it shipped in Cheaper and better selection.This is happening in the USA also more people are buying on the internet and brick stores are closing.
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Post by gallito on Jun 23, 2016 11:15:32 GMT -5
Most N.A can't afford those brands;apariencias just like anywhere Colombians want to be seen.Who else would lineup all night for a starbucks opening.
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Post by caliconnection on Jun 23, 2016 12:05:36 GMT -5
Most Colombians that can afford cloths from these brand stores are buying thru Amazon and having it shipped in Cheaper and better selection.This is happening in the USA also more people are buying on the internet and brick stores are closing. Yes indeed. Just take a look at the stock prices of some of the traditional retailers compared to Amazon this past year.
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Post by Deleted on Jun 24, 2016 6:49:11 GMT -5
I used to buy GAP... back in the late 90s. Are they still fashionable?
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Post by papitohead on Jun 24, 2016 10:45:40 GMT -5
What they need in Colombia would be Marshall and TJ Maxx. They sell major brands a a ridiculous prices. What they do is purchase great quantities from manufactures such as Polo, Calvin Cline etc. Here in PR is great because the stuff sold is just a few months off season. PR does not have winters, fall or spring.
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Post by gallito on Jun 24, 2016 11:01:53 GMT -5
Yup we have Winners in Canada;brand name selloffs at discounted prices.In NY they have streets full of bargain apparel.
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Post by suba on Jun 26, 2016 12:24:21 GMT -5
What they need in Colombia would be Marshall and TJ Maxx. They sell major brands a a ridiculous prices. What they do is purchase great quantities from manufactures such as Polo, Calvin Cline etc. Here in PR is great because the stuff sold is just a few months off season. PR does not have winters, fall or spring. I agree, but what they need in Colombia and what they want are two different things. My wife sells shoes and clothes here and the number of women that turn their noses up at Colombian and Chinese stock is ridiculous. They think iphones are manufactured in London.
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Post by billyb on Jun 26, 2016 12:35:37 GMT -5
I have a friend in Cali that used to own a confecionary, and made polo shirts for Izod and another brand in the US under contract, and would put a Made in Colombia label on them and no problem. But when he tried to sell same shirts in Colombia they would not buy them because of the Made in Colombia label, so for the domestic market he would put a Made in USA label on and they sold like hot cakes
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