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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 Crew Urban Outfitters Abercrombie and Fitch
Target Market
Men and Women ages 28 to 38 years oldMen and Women ages 28 to 38 years old
• Income range of $50,000 to $80,000 per yearIncome range of $50,000 to $80,000 per year
• Single or married living in urban areaSingle or married living in urban areas Have 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