GAP exits Serbian market

The only store of the famous U.S. clothing store chain GAP in Serbia is about to be closed.

It is still unknown which factors were crucial to the business failure of one of the world's top brands in Belgrade, but the reasons should probably be sought in a drop in the purchasing power of Serbian citizens, a bit higher prices, as well as in the arrival of serious competitors such as Sweden's H&M.

Remaining goods are currently on the last sale in so far the only GAP store in Knez Mihailova Street, and the largest portion of this three-floor store is already in dark.

GAP staff confirmed to Mondo that the company was not going to move the store, but exit the Serbian market completely.

GAP arrived in Serbia in September 2011.