Brand Overview
The Banana Republic, owned by Gap Inc, is a modern chain clothing store producing classic and versatile clothing. Banana Republic has evolved from a small safari clothing line into a multi-billion dollar business.
Brand History
Mel and Patricia Ziegler were young journalists who set out to travel the world. Mel was sent to Australia on an assignment and stumbled upon an army surplus store stocked with British military supplies. He purchased several hundred dollars worth of merchandise and returned home to California.
Mel started receiving compliments every time he put on his safari jackets and cargo shorts. The Zieglers decided to purchase surplus clothes by the pound from Australia and sell them to their friends and family. Mel and Patricia quickly realized there was a strong demand for these products and in 1978, they started the Banana Republic.
The first Banana Republic storefront was located in Mill Valley, California. In conjunction with the storefront, the Zieglers also started a mail-order catalogue that became an instant success. The catalogue featured clothing from striking locales and had narrative stories throughout. The catalogue's success allowed the Zieglers to open a second storefront a year later. Today the Banana Republic has over 400 retail stores and generates 2.4 billion in annual revenue.
According to Mel, "We started the company mostly to have the ability to travel, to be free, to write our own paycheck and we never had our sights beyond that."
In 1983, Gap acquired Banana Republic and made the store into its high end "casual luxury", moving away from the safari motif. Gap owns Old Navy, Banana Republic and Forth & Towne. The businesses of the Gap currently employ over 150,000 people.
Gap's description of the Banana Republic:
"Delivering elevated design and luxurious fabrications at approachable prices, Banana Republic has been credited with helping make fashion more accessible. The brand offers elevated essentials and sophisticated seasonal collections of accessories, shoes, personal care products and intimate apparel. From work to casual occasions, Banana Republic offers covetable, uncomplicated style."
The Zieglers also founded the Republic of Tea, a company that sells exotic tea. They also tried to start-up an internet business for "active clothing" called Zoza, but it collapsed in 2001.
Recent Collections
Fall/Winter '06
External Links
Gap Inc. NYSE Company Snapshot
Category
Owner: "Tyler" Last edited on September 7, 2007 10:12 am by "admin"
