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BERLIN, Germany — Zalando SE, Europe's largest online fashion retailer, said it will start selling clothes from Gap Inc. in Europe, sending its shares higher.
Gap will open an online shop on Zalando’s platform as part of a European partnership, the two retailers said in a joint statement today. Gap clothes for women, men, children and babies will be available beginning summer 2015. Zalando shares rose as much as 3.3 percent.
“This partnership represents Gap’s first foray into multibrand retailing in Europe,” Stefan Laban, head of Gap’s international business, said in the statement.
Gap, the biggest U.S. apparel-focused retailer, opened its first European store in 1987 and now has 190 of its own stores and 33 franchise shops across Europe. The partnership will complement Gap’s own online presence while extending the product range for Zalando.
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Zalando traded 2.7 percent higher at 19.52 euros as of 9:45 a.m. in Frankfurt.
By Katarina Gustafsson; editors: Celeste Perri, Thomas Mulier, Paul Jarvis.
