RETAIL
Gap Inc. Reveals Plans for Omni-Channel and Asia Expansion
In the next three years, Gap Inc. hopes its sales in China will reach $1 billion as it expands the number of stores located there and pumps up its omni-channel offerings.
The San Francisco–based company—whose nameplates include Gap, Old Navy and Banana Republic—recently debuted its first Old Navy stores in China, and more stores under various nameplates will follow.
At its annual investors meeting in San Francisco on April 16, Gap executives noted they are intent on bridging the global digital world with its bricks-and-mortar stores. They discussed how they plan to expand their omni-channel shopping alternatives.
Currently, customers can reserve items in stores, find items in stores and ship from stores. Later this year, customers will be able to make more orders in stores by having instant access to the retailer’s expanded product selection online.
The company also announced the expansion of its reserve-in-store service to all Gap stores in the United States, which should be done by the end of the second quarter. This will help online and mobile shoppers reserve items at more than 1,000 Gap and Banana Republic stores.
“We have the world’s best collection of American brands, coupled with a strong economic model and runway for global growth,” said Glenn Murphy, chairman and chief executive officer of Gap Inc. “As the retail landscape evolves, we continue to deliver on our omni-channel roadmap and focus on owning the shopping experience of the future.”
Gap executives also are working to improve their seamless inventory model and have a more responsive global supply chain to improve gross margins and revenues.
