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Refocusing The Gap Essay

1720 words - 7 pages

Introduction Gap Inc. is a leading international specialty retailer, which offers clothing, personal care products, and accessories for any and everyone. Currently Gap Inc. operates in 4100+ stores worldwide. Customers can shop at Gap stores in six different countries. The purpose of this report is to discuss some strategies as to how the declining chain clothing store Gap. Can rebound and re-attain a position similar to that of the 90's.History/Company Highlights In San Francisco, California with a single store with no more then 5 employees, Donald and Doris Fisher founded Gap in 1969. In 1990 Baby Gap is born as well Gap Inc. opens its first Canadian Store located in Vancouver, British Columbia. In 1994 Gap Inc.'s newest brand Old Navy makes its debut in the retail world. In the same year Gap introduces Gap Scents an authentic fragrance, which was sold in Gap Stores.The rise of Gap Inc. to retail superstar status in the past years came courtesy of a number of initiatives. CEO Mickey Drexler launched and expanded the firm's Old Navy discount chain while adjusting Banana Republic for the upper end of the apparel market. These Moves enabled Gap Inc. to focus each unit's merchandise and revamp inventory management to offer a deep selection of core products thus boosting sales and improving customer satisfaction.The Gap would not have became what it is today in the retail industry without clever advertising. Massive amounts of hip and trendy ads have managed to turn Gap's commodity products into branded items that made people feel good and kept them spending. Spending on advertisements increased from $96 million in 1996 to $419 in 1998. (Fortune Mag. Aug. 98) During Gap Inc. reign at the top of the Khaki and casual wear market the question was asked, "Could Gap keep it up?" With Customers not needing to purchase as many new pairs of khakis as in the past. And when everyone's wearing khakis. It's easy for people to start disliking them. Taking this into consideration it's easy to see that people are exploring other fashion options other then the traditional one's of the Gap.Problems the Gap Faces As the fashion industry changes Gap does not seem prepared to change from its traditional ways. Gap is known as a store where you can get high quality affordable clothing. One of the problems that push customers away from Gap and towards their competitors like Levis and LeChateau is the bright color scheme of their clothing. When a person enters a Gap stores they are bombarded with an assortment of bright colors, which either attract or repel customers.One of the main problems, which the Gap is facing, is retaining customer loyalty. As fashion trends change Gap Inc. has not stepped up to the plate so to speak. They have aimed all their advertising and marketing towards one type of individual.The prep look is starting to fade out, as other fashion styles begin to take the flight. If Gap doesn't alter its methods of delivery and attempt to adjust to the change...

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