Tuesday, 9 January 2007

There is a sales gap at GAP

While I was reading the FT today (Financial Times), I noticed this article about the possible sale of Gap (the US clothing store). I am not going to put the link to that FT article here because it isn't available without subscription. I might scan it and put it here. I have found a free link from The San Francisco Chronicle though (at the end).
Anyway, back to the news. I am not at all surprised by this possible sale. I used to love GAP. It was sexy, colourful and nice. For the past 3 years (the last thing I bought from Gap was in 2004), I have not been impressed with the quality at all. It feels like that they try and get the big stars as the faces of their campaigns but they forget that it's not Sarah Jessica Parker or Seal that customers are going to buy. It’s the clothes! The clothes are appalling. The colours are awful. There is beige, there is very very light pink and there is more beige, more light pink, maybe a disgusting brown shade...but there is no variety. They have tops for girls. A small top that looks so well out of proportion. The jackets that just look so old fashioned. What happened? I know a lot of other people who have stopped shopping there.

The prices as well are just ridiculous. Why would I spend £25 pounds on a tank top when I can get something much better, sexier and cheaper from a more trendy shop say for example Zara or Promod?

Struggling Gap considers sale
By James Politi andJonathan Birchall in New York
Published: January 9 2007 02:00 Last updated: January 9 2007 02:00
Gap, the largest US speciality clothing retailer and an icon of American casual style, is considering a range of options, including a sale of the company, following more than two years of slumping sales.
According to people familiar with the matter, Gap has in the past few weeks given bankers at Goldman Sachs a mandate to examine the company's strategic alternatives, raising speculation that it could be taken private in a leveraged buy-out worth more than $16bn.

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