Banana Republic. A profile by Amber Hayward Brittany Risser Mackenzie Smith. History. The first Banana Republic was opened in 1978 in San Francisco by Mel Ziegler . Originally known as Banana Republic Travel and Safari Clothing Company specializing in travel and safari wear.
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Banana Republic • A profile by • Amber Hayward • Brittany Risser • Mackenzie Smith
History • The first Banana Republic was opened in 1978 in • San Francisco by Mel Ziegler. • Originally known as Banana Republic Travel and Safari • Clothing Company specializing in travel and safari wear. • In 1983, Gap, Inc. acquired the company and had rapid expansion. • By the late 1980’s, sales had slumped and they decided to shy away • from the travel clothing. • Original owner, Mel Ziegler, resigned stating they had cultural and creative • differences with the management of Gap. • Started to introduce new colors and fabrics, as well as new product lines, such as accessories and sleepwear.
Today • Today, there are over 575 stores worldwide including Canada, Asia, and Europe. • In 2008, Banana Republic’s total sales were 2,723 million all around the world.
Competitors • Anne Taylor J CrewUrban Outfitters Abercrombie and Fitch
Target Market • Men and Women ages 28 to 38 years old • Income range of $50,000 to $80,000 per year • Single or married living in urban areasHave a professional business career
strengths • Sell both men and women’s clothing • strong supply chain • variety of clothing including casual and business wear, swim wear, handbags, jewlry and other • Clothing more fashionable than some other competitors • offer in store promotions catered to target market
weaknesses • over-dependance on the U.s. market • declining cash flows • do not introduce new product as often as competitors • price zone high for some in target markets • Minimal advertising
opportunities • expansion (more stores, more outlet stores to catch a lower price point in their target market) • etailing • Breaking into the international market- http://www.youtube.com/watch?v=5EL8OBkWXV0&feature=related
threats • competitors in the market • nature of the retail market
sources http://gapinc.com/public/documents/GPS_AR_07.pdf http://www.gapinc.com/public/About/abt_milestones.shtml Hoovers. (2009, Feb 17). Banana Republic. Retrieved October 1, 2009 from the Oregon State University website: http://www.lexisnexis.com.proxy.library.oregonstate.edu/us/lnacademic/results/d view/docview.do?docLinkInd=true&risb=21_T6001431174&format=GNBFI&sor