In a series of plans that have been released by the executives of Gap Incorporated, who own retailers Gap, Old Navy, Banana Republic, and online site Piperlime.com, almost every division of the company is getting a makeover this year. The main goal of the refurbishing is to strengthen the brand within the American market in order to eventually expand abroad, according to Gap Inc.'s chairman and chief executive officer Glenn Murphy.
The first division up for review is Old Navy, whose update is long overdue considering the company has not altered the theme of the apparel warehouse since it's opening 15 years ago. Company reps stated that they would be 50 Old Navy stores in the third quarter with more to follow. Old Navy had increased its worth to the company in recent months with it's customer-friendly products, pricing, and marketing and deserves to have a fresh and more current look as result. “We have a model that was successful for a long time,” Murphy said. “We
held on for too long. We never really went back and refreshed them and
modernized them.” There's no time like the present!
The other two divisions that will be tweaked are the company's namesake brand and Banana Republic. Gap, as a second priority to the company, will receive more predictable updates such as a new denim campaign to launch in August and a "strong marketing campaign for holiday." Banana Republic, however, is in the works to become an international brand. Deemed as more globally versatile, the Gap Inc. brand with the slightly higher price point is predicted to take off in such markets as Japan and the U.K. Murphy explained, "We believe there’s a city strategy for Banana Republic, which is very
important to us as we look at our future international, corporately
controlled growth strategy.”
In addition to the remodeling of the stores, Gap Inc. plans to expand it's web retailers as well, in particular by adding apparel to the popular shoe and accessories site piperlime.com.
Article Source: WWD
Photo Sources: nitrolicious
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