“We are incredibly grateful to our fashion-focused, loyal customers, and proud of our dedicated employees who have been working hard to evolve the brand and test out new ideas,” said Gap Inc.’s new CEO Art Peck. “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 as we continue to bring great products and shopping experiences to our customers.”
Piperlime launched in 2006 as an online multi-brand shoe retailer. It expanded into apparel in 2009 and added menswear. A Piperlime store opened in Manhattan in 2012. Last year, the brand abandoned its menswear business.
Gap Inc. said that Piperlime’s annual sales were less than $100 million, and added that its revenue accounted for less than 1 percent of its total business.
Gap Inc. operates about 3,200 stores under the Gap, Banana Republic, Old Navy, Athleta and Intermix brands.