Gap to sell Greater China businesses to e-commerce firm Baozun

Gap to sell Greater China businesses to e-commerce firm Baozun

FILE PHOTO: Men wearing face masks walk past a Gap store at a shopping area, as the country is hit by an outbreak of the new coronavirus, in Beijing, China February 7, 2020. REUTERS/Jason Lee

US apparel retailer Gap Inc has agreed to sell its Greater China businesses to Baozun Inc, the e-commerce service provider said on Tuesday, as headwinds persists for global consumer brands in the world’s second-largest economy.