Source: The Business of Fashion
Summary
Gap Inc.’s spin-off, Old Navy’s parent company, GPS, debuted on the stock market. CEO Hali Borenstein expressed optimism about the brand’s growth prospects.
Our Reading
The trend returns with a new name.
Old Navy’s parent company GPS enters the market, echoing past attempts at spin-offs and rebranding. The move is reminiscent of similar strategies employed by other retailers in the early 2000s. The brand’s focus on affordability and trendy styles is not new, but rather a reiteration of what has worked in the past. The emphasis on growth and expansion is a familiar narrative in the retail industry. Old Navy’s growth is fueled by the same market demands that have driven fast fashion for decades.
Author: Evan Null
