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

The biggest H&M store opens in New-York City

The biggest H&M store opens in New-York City

H&M opened its first US store in New-York City in 2000, on Fifth Avenue. 15 years later, Manhattan will be the location of the brand's largest store ever.

  • Shop
Whole Foods Market wants to triple its locations in the US

Whole Foods Market wants to triple its locations in the US

In addition to the recent news of their soon-to-be-launched 365 by Whole Foods Market chain, the healthy food supermarket just announced their long-term goal: 1,200 Whole Foods Market locations in the US.

  • Shop
Target is Opening a Small-Format Concept Store near Downtown Boston

Target is Opening a Small-Format Concept Store near Downtown Boston

The good news is that Target is planning to open a new store in Beacon Hill in Boston. Now Beacon Hill locals can enjoy Target. This shop will be a small-format store. In fact, it will be 11,000 square feet.

  • Shop
Warby Parker's first New Jersey store

Warby Parker's first New Jersey store

Everyone who hears the name 'Warby Parker' immediately thinks of glasses and sunglasses in the New York area, and the brand has expanded to include a number of locations in the U.S. and Canada, and recently a completely new branch in Paramus, New Jersey.

  • Shop
Old Navy plans to open 800 new stores