3,731 $m
The Gap brand has experienced rocky times in recent years, as the business concept has been successfully copied and revamped by trendier competitors like H&M, Zara, and Uniqlo. Gap has also struggled with a blurred brand vision and lack of design originality. Consequently, the world has watched Gap’s steady fall from grace, and consumers are reluctant to keep the faith to a brand once considered the king of retail apparel. In response, Gap is now focusing its efforts on reconnecting with its Californian roots, and staying true to the iconic casual style, built on jeans and t-shirts, that made it so popular in the 1980s and 1990s. The brand is expanding in Asia and its dedicated Chinese e-commerce site has logged orders from over 330 cities across the country. Its partnership with China’s e-commerce leader, Toabao Mall, will allow Gap to reach an additional 370 million consumers. In addition, Gap plans to open 45 stores in China by the end of 2012. Indications show that Gap has been picking up speed after launching a global branding campaign — sales have increased and profits remain stable. By steering away from the “fast fashion” approach common to its competitors and committing itself to longerlasting consumer pleasure through colors, fabrics, and a return to iconic classic styles, Gap will get another chance to reclaim the retail apparel throne.