LONDON — Banana Republic is able to return to the U.K. market through a newly formed three way partnership between parent Gap Inc. and the British retailer Next plc. Its sister company Athleta will debut here next in 2023 via the identical agreement.

The 2 brands follow Gap, which made its own comeback within the region earlier this yr.

As reported in March, Gap opened its first, new-generation shop-in-shop inside Next plc’s largest West End store on London’s Oxford Street, a part of the three way partnership agreement that was formed in 2021 after Gap Inc. pulled its businesses out of the U.K.

Next plc is one in every of the few historic high street retailers to have survived the rapid rise of online shopping, soaring business property prices and COVID-19.

The British retailer manages the Gap-branded shops at Next locations, in addition to Gap’s e-commerce business.

Next plc has 500 physical stores within the U.K. and Ireland, while the Next.co.uk marketplace carries greater than 700 fashion, home and sweetness brands. The Leicester, England-based company can be part-owner of high street clothing brand Reiss, and is the U.K. partner for brands including Laura Ashley home and Victoria’s Secret.

The Gap.co.uk site has already migrated to the Next Total Platform, a services provider for online businesses. Gap has branded shops-in-shop at Next stores in London, Birmingham, Manchester and Thurrock, England, and in Glasgow, Scotland.

Banana Republic can be relaunching within the U.K. with a curated collection for men and women that can be available on Next.co.uk. Athleta will enter the U.K. market in early 2023 on Next.co.uk.

As reported, Gap is the most important brand shop inside Next’s Oxford Street store, and spans greater than 4,000 square feet. The space is smaller than the previous Gap stores here, and the design is supposed to be more “open, modern and minimal.”

In July 2021, Gap announced plans to shut all 81 of its company-operated stores and outlets within the U.K. following a strategic review of its European operations. Two months later, it inked the three way partnership with Next.

The U.K. was the primary European market Gap entered, and the late ’80s and ’90s were amongst its most successful many years. It boasted big-box stores in prime locations, including Oxford and Regent streets in London.

Jon Jeffery, managing director of the JV, said his hope was that the brand new iteration of Gap within the U.K. would “restore belief” within the brand’s pricing. “We all know that our customers recognize value for money delivered through innovation, quality and a focus to detail. To that end we’ll focus more on delivering great products, and fewer on promotions and discounts.”