Gap plans international push
Clothing retailer may export more brands
Gap is looking to kick-start its stalled international expansion and may export more of its retail brands outside the US.
The clothing retailer, which operates the Old Navy and Banana Republic chains in the US as well as the core Gap chain, is also considering adding new retail brands.
Gap’s chief executive Paul Pressler, has told the [i]Financial Times [/i]that he is looking further growth of the Gap chain in its core overseas markets, the UK, France and Japan. Gap exited Germany this month with the completion of a deal to transfer its German stores to H&M.
[img r]gapbirmingham.jpg[/img]Gap’s international expansion has been on hold as Presser focused on a sales recovery in US, but Pressler told the [i]FT [/i]he could envisage both Banana Republic and Old Navy in Europe, and is also looking at a possible fourth US chain. He said: “We also believe that we need a fourth brand, and some day we’ll need a fifth brand.”
There has been speculation that Gap could target older ‘baby boom’ customers with a new brand. Pressler did not confirm ths, but said: “When you look at the areas where we compete, we clearly under-penetrate this boomer customer, 35-plus or 40-plus. So, intelligently, that would be an opportunity to grow without cannibalising our existing businesses.”
