Gap's new strategy for growth
Gap Inc is pinning its hopes on online and international sales, as well as improvements in its North American business, to secure a greater slice of the $1.4 trillion global apparel market.
Even though Gap Inc is upbeat about plans to grow its business online and internationally as part of a raft of strategic changes earmarked for the business over the next three to five years, the retailer's boss admits he's still "not happy" with recent performance at its namesake chain.
While righting its domestic business and turning top line growth into market share is seen as a priority for Gap Inc in the years ahead, another major focus for the future is international and online expansion.
Gap Inc is pinning its hopes on online and international sales, as well as improvements in its North American business, to secure a greater slice of the $1.4 trillion global apparel market, the US clothing giant told investors today (14 October).
Just as BP's disastrous handling of the worst oil spill in US history earlier this year is already a public-relations case study in how not to manage a crisis, so too clothing retailer Gap Inc is likely to be remembered for all the wrong reasons after its rebranding efforts this week.
As two of fashion's biggest brands launch e-commerce sites to serve their European consumers, one question remains; what took them so long?
Even though Gap Inc managed to beat second-quarter earnings forecasts with the help of higher revenues at its Old Navy and Banana Republic chains, the retailer's boss admits to being "disappointed" that sales at its namesake chain continue to run below par.
US casual clothing retailer Gap Inc first mooted its plans to expand in China, the world's fastest-growing economy, last October - but it is only now, eight months down the line, that more details of this major milestone in the company's global growth have been revealed.
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