Old Navy plans to open 800 new stores

Old Navy plans to open 800 new stores


Shop

With a recent announcement that surprised clients and financial analysts alike, the well known fashion and accessories retailer Old Navy is making the news, and drawing massive attention both in the USA and across the world.

In a bold move that caught everyone by surprise, the retailer announced its intentions to split away from the parent company GAP, and stand independently as a differentiated brand as well as a publicly traded company.

Not only that, the retailer announced its intentions to open around 800 new stores immediately following their split from GAP; this move will nearly double their current locations, pushing the total number of shops - most off which are outside shopping malls - to almost 2,000 locations (although nearly 200 of the existing GAP shops will close in the process).

A closer look at the upcoming split between Old Navy and GAP

This is a very surprising move, especially at a time when store closing rates across the USA are higher than ever. The split between GAP and Old Navy will however be friendly, and the parent company (Gap, Inc) will retain its diverse portfolio that includes companies like Athleta and Banana Republic - although it could change its current name.

According to Sonia Syngal, who is currently CEO at Old Navy, this move intends to differentiate Old Navy and bring it back to its origins. The company was founded in California in 1994 with ambitious plans to create a powerful identity that bridges the gap between tradition and innovation in the fashion and accessories industries. This vision will once again become the main focus one Old Navy becomes a separately traded company.

Where will the new Old Navy Stores be located?

The spin off will begin in 2020, and in a first phase, over 200 GAP stores will close (typically in locations where there is currently a GAP store alongside Old Navy. From there, the plan is to create around 80 new stores each year until the goal of 800 new stores has been accomplished. In case this plan is successfully accomplished, Old Navy will likely become the most widespread clothing store in the USA.

According to the Old Navy representatives, the focus will be directed towards small markets (of under 200,000 people) that currently are underserved and show good potential for sales. With its unwavering focus on providing value to American families, maybe the popular retailer could manage to turn the decline of brick-and-mortar stores to its advantage, with these ambitious plans for expansion.

News written by the team of Stores-Locator.com Stores-Locator.com

News in the same category

Amazon Go Opens in San Francisco: Taking Automated Convenience to the Next Level

Amazon Go Opens in San Francisco: Taking Automated Convenience to the Next Level

Amazon has been making waves within the digital community for more than a decade and recent innovations have enabled this massive firm to translate its services into the physical world.

  • Shop
Inside the best record store in Seattle

Inside the best record store in Seattle

Seattle is well known for its music scene. It is still blessed with an abundance of record stores despite the extortionate rents that are charged in the city.

  • Shop
Repetto: A touch of French ballet in Manhattan

Repetto: A touch of French ballet in Manhattan

Manhattan's French shopping area is to welcome a new brand soon: Repetto's first American store will open this Autumn, bringing a little swing in its baggage.

  • Shop
  • New Products
Gap has to close 175 store in the US

Gap has to close 175 store in the US

The Gap, the once cool clothing brand is facing hard times and has to close 175 of its stores in North America. Europe is on the list too.

  • Shop
Old Navy plans to open 800 new stores