As part of their restructuring, Gap Inc. has announced that they are closing 200 stores of their 900 global stores by 2013 and restructure its signature look to give a “contemporary” feel. We hope they bring back their more “classic” feel from the 90’s, which was spearheaded under the guidance of Mickey Drexler. Micky has continued to successfully exploited this style at J.Crew — all the while the Gap has been chasing the latest fads.
In a presentation at a consumer conference, live-streamed on the company’s website, chairman and CEO Glenn Murphy has announced that Gap will focus on modernising its signature look. He also admitted that Gap had not tried hard enough to attract ethnic minority customers in the US. In a masterful attempt at accentuating the positive, Mr Murphy described the brand’s repositioning as “a huge opportunity … to fill in with trend-right products … and focus on new category development”. Marketing will shift, he said, “disproportionately to acquiring new customers”.
“Gap is most successful when it finds its place within the season’s trends. The flare and the wide-leg pants are good examples. They are the sort of pieces that could appeal regardless of how closely you follow trends,” said Anita Borzyszkowska, the head of global PR at the Gap Inc.
Alex has written for Vanity Fair, Barrons, Bloomberg and Condé Nast Traveler.