Banana Republic global brand president Andi Owen to step down
Gap announced on Tuesday that Andi Owen, Global Brand President of Banana Republic, will leave the company in late February. Gap CEO Art Peck will directly oversee the brand while a search is underway for Banana Republic’s next President.
Owen joined Gap in 1991 and held several roles with the company, 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 performance. Gap Inc. total sales may have increased 3% in the holiday season and 1% for November/December, but Banana Republic comparable sales fell 7%. In 2016, Gap closed a number of Banana Republic stores outside of the US including 8 stores in the UK.
In addition, designer Marissa Webb, who joined Banana Republic in 2014, stepped down as Creative Director of Banana Republic during Owen’s tenure. She remained with the company however but in an advisory role.
Peck said, “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.”
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