Old Navy moves to the land of Uniqlo
Gap had already set the tone with the recruitment of the former director of international sales for H&M as its global brand president, effective this October. Old Navy is no longer satisfied with the North American market. The label belonging tothe Gap group has just opened its first store outside of its native country where it has over a thousand stores.
Old Navy opens its first store outside of North America in Japan. Photo Old Navy
And the move is fraught with meaning. While Uniqlo, which has 827 stores in Japan, is currently showing a hint of ambition for international growth, the American company is opening shop in the middle of DiverCity Tokyo Plaza mall in the touristy area of Odaiba.
The group already knows the market well through its 150 Gap and Banana Republic stores in Japan but is now launching its most value-priced label there.
The company states that its goal for the end of 2013 is to attain 30% of its turnover with online and international sales through its various labels. At the end of its fiscal year 2011, activity in North America still represented 74% of sales. But Gap has to work hard: its international sales fell 14% in June.
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