Banana Republic A profile by Amber Hayward Brittany Risser Mackenzie Smith

History The first Banana Republic was opened in 1978 in San Francisco by Mel Ziegler. Originally known as Banana Republic Travel and Safari Clothing Company specializing in travel and safari wear. In 1983, Gap, Inc. acquired the company and had rapid expansion. By the late 1980’s, sales had slumped and they decided to shy away from the travel clothing. Original owner, Mel Ziegler, resigned stating they had cultural and creative differences with the management of Gap. Started to introduce new colors and fabrics, as well as new product lines, such as accessories and sleepwear.

Today Today, there are over 575 stores worldwide including Canada, Asia, and Europe. In 2008, Banana Republic’s total sales were 2,723 million all around the world.

Competitors Anne Taylor J Crew Urban Outfitters Abercrombie and Fitch

Target Market Men and Women ages 28 to 38 years old Income range of $50,000 to $80,000 per yearIncome range of $50,000 to $80,000 per year Single or married living in urban areaSingle or married living in urban areas Have a professional business career

strengths Sell both men and women’s clothing strong supply chain variety of clothing including casual and business wear, swim wear, handbags, jewlry and other Clothing more fashionable than some other competitors offer in store promotions catered to target market

weaknesses over-dependance on the U.s. market declining cash flows do not introduce new product as often as competitors price zone high for some in target markets Minimal advertising

opportunities expansion (more stores, more outlet stores to catch a lower price point in their target market) etailing Breaking into the international market- ed ed

threats competitors in the market nature of the retail market

sources Hoovers. (2009, Feb 17). Banana Republic. RetriHoovers. (2009, Feb 17). Banana Republic. Retrieved October 1, 2009 from the Oregon State University website: view/docview.do?docLinkInd=true&risb=21_T &format=GNBFI&sorkInd=true&risb=21_T &format=GNBFI&sor