Gap-Owned Brand Piperlime Bites the Dust

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Photo: Bloomberg/2012 Bloomberg

The retail hits came fast and furious this week as C. Wonder, Wet Seal, and beloved high-altitude emporium SkyMall all filed for bankruptcy. Now Fast Company reports that Gap Inc. is shutting down Piperlime, the online retailer with an odd citrus logo that also maintained a store on Wooster Street in Soho. Both the store and the website will close by the end of the first fiscal quarter of 2015. "We plan to keep on pushing new ideas and look forward to seeing how we can apply what we’ve learned to the rest of the company," said Gap CEO Art Peck, who officially takes over next month, in a statement. Per the company, despite its constant touting on Project Runway, Piperlime only represented about one percent of Gap Inc.'s business.