TheIndustry.fashion

Gap is one of the world's largest fashion retailers with five international brands including Gap, Banana Republic, Old Navy, Athleta, and Intermix and manages over 3,165 stores in 90 countries, with an additional 459 stores operating under franchise agreements.

In March 2019 Gap Inc added US childrenswear chain Janie and Jack to its portfolio having acquired the business in a $35m deal. The move came days after Gap revealed it would be splitting its business into two companies, one of which will consist of the eponymous brand and others including Banana Republic and another yet to be named “New Co” housing Old Navy, which has been outperforming its stablemates. Gap also said it would be closing 200 stores globally over the next two years.

At the end of 2018, the business ran 1,242 company-operated Gap shops worldwide with 152 in Europe, the majority of which were in the UK. For fiscal year 2018 the group’s net sales were $16.6bn.

Recently Gap also announced its plan to derive 100% of its cotton from more sustainable sources by 2025. The American fashion giant is committed to sourcing 100% of its cotton from more sustainable sources by 2021. Gap Inc.’s commitment to sustainability includes sourcing Better Cotton Initiative (BCI) cotton and cotton that is organic, recycled and verified American or Australian grown. The company has also a manufacturing goal to conserve a total of 10 billion litres of water by the end of 2020.