The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Sandra Stangl is stepping down from her role as president and chief executive of Banana Republic, parent company Gap Inc. confirmed to BoF.
Stangl, who joined the business in 2020, sought to revive the struggling mall brand through a culling of unprofitable Banana Republic stores and revamping of the brands’ e-commerce channel. Last year, the brand launched a line of furniture and homeware in a move toward a lifestyle positioning.
Despite a brief uptick in sales (up 24 percent between 2021 and 2022), Banana Republic’s growth has stalled. In the fourth quarter ending Feb. 3, Gap Inc. reported that sales at the brand were down 2 percent compared to the same period in 2023, and full year sales were down 8 percent compared to the year prior.
The company reports its first-quarter earnings at the end of this month.
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How Banana Republic Became a Bright Spot in Gap Inc.’s Portfolio
The mall retailer saw sales rise after swapping generic office clothes for a stronger point-of-view inspired by its safari-themed origins. The new look wasn’t for everyone — and that was the point.
The Japanese apparel chain will be launching its sister brand GU in the US later this year, targeting younger consumers with lower prices and a curated selection of trendy wares.
Canada, France and Ireland are among the countries working with home-grown fashion talent to create uniforms for their teams at this summer’s Olympic Games. For these small labels, it’s an unprecedented opportunity to capitalise on one of sports’ largest events.
The online fashion retailer plans to update China’s securities regulator on the change of the initial public offering venue and file with the London Stock Exchange as soon as this month, a person with knowledge of the matter said.
The company, under siege from Arkhouse Management Co. and Brigade Capital Management, doesn’t need the activists when it can be its own, writes Andrea Felsted.