Gap plans new chain for 35-plus market
Fashion retailer to grow up with its customers
Gap aims to grow old gracefully alongside its customers, and has confirmed plans for a new US clothing chain targeting women aged 35 and over.
The new chain will join the Gap, Old Navy and Banana Republic chains in Gap’s portfolio next year.
Gap currently has about 7 per cent of the overall US clothing market, but only 3 per cent of the female baby boomer market. The new brand is a response to two years of extensive consumer research by Gap into the $174bn US apparel market. This identified salesl growth potential with customers not currently served by the Gap’s existing brands.
Many of Gap’s original target customers have grown beyond the brand’s teen and twenty-something image, despite its decision to feature more mature stars such as Madonna and, currently, Sarah Jessica Parker in its advertising.
Gap plans to start trials of the new speciality women’s apparel brand in the US in the second half of next year, opening up to 10 stores.
It said the brand will target women over age 35, offering apparel for a range of occasions in a new store environment. The name and other details will be announced closer to the launch date.
The chain will be run by Gary Muto, currently president of Gap’s US division. Headhunter Egon Zehnder International has been hired to fnd a new head of the Gap brand to replace him.
Gap president and CEO Paul Pressler said: “With strong expertise in building creative teams, Gary has hired and nurtured some of our best designers and merchants and understands how to evolve brands, having spent much of his career with Gap and Banana Republic.
“Gary is the right person to build the team for our new brand concept and ensure our brand vision is well-executed through compelling product design and merchandising in an exceptional store environment. He leaves Gap with a solid strategy in place and an exceptional leadership team who continues to execute against our vision.”
