Profile: Gap Inc (GPS)
11 Dec 2013
The Gap, Inc. (Gap Inc.), incorporated in July 1969, is a global specialty apparel company. Gap Inc. offers apparel, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. The Company operates in two segments: Stores, which includes the operations of the retail stores for Gap, Old Navy, and Banana Republic, and Direct, which includes the operations for its online brands, both domestic and international. It has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, China, and Italy. It also has franchise agreements with unaffiliated franchisees to operate Gap and Banana Republic stores throughout Asia, Australia, Eastern Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate or will operate stores that sell apparel and related products under its brand names. As of January 28, 2012, the Company had 3,263 store locations, of which 3,036 stores were Company-operated and 227 stores were franchise store locations. In November 2011, the Company announced the launch of its store in Hong Kong. In March 2012, the Company opened its store in South Africa.
Gap Inc.’s products are also available to customers online in over 90 countries through the Company-owned Websites and using a United Sates-based third party that provides logistics and fulfillment services. Most of the products sold under the Company’s brand names are designed by it and manufactured by independent sources. It also sells products that are designed and manufactured by branded third parties. As of January 28, 2012, the Company-operated stores aggregated approximately 37.2 million square feet. The Company also issues and redeems gift cards through its brands. Gap, Banana Republic, and Old Navy each has a private label credit card program and a co-branded credit card program, through which frequent customers receive benefits. Private label and co-branded credit cards are provided by a third-party financing company.
The Company’s flagship brand, Gap stands for casual, American style apparels. Assortments include apparel for men and women, including denim, khakis, outerwear, tees, and accessories. In addition to designing its own merchandise, Gap offers limited capsule collections in partnership with designers and other third-party merchandise. It operates in the children’s apparel market through GapKids and babyGap. GapBody offers loungewear, sleepwear, intimates, and active apparel for women. Gap products are available globally in its specialty and outlet stores, online, and in franchise stores.
Banana Republic is a global, multi-channel brand that is a destination for work wear for both men and women. Banana Republic offers apparel, handbags, shoes, jewelry, personal care products, and eyewear for men and women. The customers can purchase Banana Republic products in its specialty and outlet stores, online, and in franchise stores.
Old Navy brand targets young families. As of January 28, 2012, Old Navy offered on-trend selections of apparel, shoes, and accessories for adults, children, and babies, as well as other items, including a maternity line and consumables. Customers can purchase Old Navy products in stores in the United States and Canada, and online, which includes online-exclusive items, such as a plus-size line.
Piperlime is an online fashion boutique. Piperlime brand offers customers a mix of private label and brands in footwear, apparel, and accessories for women and men, as well as footwear for kids. it also provides advice, tips, and trends from style experts to customers.
Athleta offers women’s sports and apparel and footwear for a variety of activities, including golf, running, skiing, snowboarding, tennis, swimming, and yoga. In addition to Athleta’s products, customers can purchase an assortment of products from brands in women’s wear. Customers can purchase Athleta products online and through a catalog.
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