American apparel retailer GAP Inc. has announced that Andi Owen, Global Brand President of Banana Republic will leave the company next month. Owen joined the Group in 1991 and held several roles, including Senior Vice President and General Manager for Banana Republic Factory Stores in 2006. Since 2011, she has served as Executive Vice President, General Manager for GAP Global Outlet, and in 2015 she was named Global President of Banana Republic.
Owen’s departure follows a year of store closures for Banana Republic and a poor holiday season performance. GAP’s total sales may have increased 3 per cent in the holiday season and one per cent for November-December period, but Banana Republic’s comparable sales fell 7 per cent. In 2016, GAP closed a number of Banana Republic stores outside of the US including 8 stores in the UK.
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Art Peck, Chief Executive Officer, GAP, who took the position in 2015, will directly oversee the brand, while the company searches for Owen’s replacement. “During her time with Banana Republic, Andi led critical work improving the brand’s aesthetic and product quality and moved the brand to a full omni-channel assortment. While these improvements have been important steps forward, we have significant work to do in order to consistently win with customers. Andi and I agreed that now was an appropriate time for a change in leadership,” commented Peck.
Under Peck, GAP Inc. has been trying to replicate the success of its low-end Old Navy brand at its GAP and Banana Republic brands.