If ’90s Nostalgia Can’t Save The Gap, Then Maybe Old Navy Will
Gap Inc. – a suite of five brands that includes the namesake one, as well as Banana Republic, Old Navy, Intermix and Athleta – released its 2016 fourth quarter earnings report yesterday, revealing a modest 2% increase in sales during this past holiday season. As leadership continues to shutter Gap and Banana Republic’s brick and mortar stores, it promises new locations for Athleta and Old Navy, and forecasts sustained growth overall. It’s clear from the report that Old Navy, with its wallet-friendly, trend-conscious clothing and perpetually goofy commercials, is outperforming its sister brands. Yet in the second month of 2017, the internet buzz has been all about Gap, suggesting that even with plans to close more of the brand’s existing retail locations, Gap Inc. hasn’t given up on its eponymous company. For years, Gap has been trying to recapture the magic of its glory days, and earlier this month, it revealed that it was taking the job literally. On February 2, Gap announced that it was revisiting a series of iconic pieces from the 1990s, like the bodysuit, high-waist pleated khakis and pocket tee as a part of its ’90s Archive Re-Issue Collection. To top off the nostalgia quotient, it released a short film called “Generation Gap” to introduce the collection, starring ageless supermodel Naomi Campbell in denim short-shorts, stiletto booties, and a version of the pocket tee she first wore in a Gap ad back in 1992. See more at Forbes.
