Rumor: Uniqlo Taking Over Gap?
It’s no secret that the Gap has been struggling in recent years to keep up profits and keep the attention of buyers. The denim giant may be doing worse than we thought because rumors have begun circulating that Uniqlo is considering purchasing the business. While at first this takeover would seem unlikely (Uniqlo’s presence in the United States is nowhere near as strong as the Gap’s), Uniqlo actually comes from a rather strong empire called Fast Retail, founded in 1984 by Tadashi Yanai. Yanai reportedly has been looking for new ways to break into the American fashion market. So what would a Gap under Uniqlo regime look like? We have to admit that we’d be interested to find out. [PSFK]