Banana Republic
From Wikipedia, the free encyclopedia
| Banana Republic | |
|---|---|
| Type | Subsidiary of GAP |
| Founded | 1969, Mill Valley, California |
| Headquarters | San Francisco, California |
| Industry | Retail |
| Products | Clothing and accessories |
| Revenue | $2.5 billion (2006, for Banana Republic division) |
| Employees | 152,000 (throughout Gap, Inc.) |
| Website | www.bananarepublic.com |
Banana Republic is a chain of mainly United States based clothing stores founded by Mel and Patricia Ziegler in 1978 as a travel-themed clothing company. It was bought by Gap Inc. in 1983. The company has over 500 stores.
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[edit] History
The original Banana Republic was founded by Mel and Patricia Ziegler in 1978. It was a two-store safari and travel-themed clothing company. The majority of sales came from its eccentric catalog, which presented high-end and unique items with chatty, usually fictional, backstories from exotic locations, as well as more pedestrian high-volume products deliberately spiced up with a similar treatment. The company competed directly with the J. Peterman catalog later satirized on the TV show Seinfeld. As Banana Republic expanded its retail operation, it became known for the themed decoration in its stores, often featuring authentic elements, such as real Jeeps and foliage, as well as atmospheric elements, such as fog and steam.
Gap Inc. acquired Banana Republic in 1983, eventually rebranding it as a mainstream luxury clothing retailer. The eccentric tourist-oriented items were phased out and were replaced with more luxurious items for which the brand is currently known. For a time, Banana Republic ate into Gap's consumer base; as the product lines continue to diverge, in both quality and style, this continues to be less of an issue. Ninety percent of the design team in New York is British. To set itself apart from Gap as a more upmarket brand, Banana Republic occasionally buys and refurbishes historic buildings for its retail locations.
[edit] Profile
The company operates more than 500 Banana Republic stores in the United States (including Puerto Rico), and 26 stores in Canada. It has also recently opened 2 stores in Tokyo, Japan,and will open six stores in Seoul, Korea and 2 stores in Istanbul,Turkey. Banana Republic offers clothing in women's regular and petite sizes as well as in men's. Recently, some men's stores were converted to sell petite sizes as well. It has also recently signed franchising deals in Indonesia, Korea, Malaysia, Singapore, the United Arab Emirates, and the Sultanate of Oman
Banana Republic's presence in Korea debuted on August 24, 2007 with a flagship store in the Apkujeong district of Seoul.
In 2007, the first Banana Republic stores opened at the The Avenues mall in Kuwait and Senayan City in Jakarta, Indonesia.
Banana Republic has also announced that it will open stores in Turkey and the Philippines.[citation needed]
On March 20, 2008, Banana Republic opened its flagship store on Regent Street in London, United Kingdom. The 17,000 square foot store is its debut in the European market. [1]
In March 2008 Banana Republic was criticized by War on Want for allegedly employing workers at sub contractors in India at rates as low as 30 cents (US) an hour for a 70 hour week. The company immediately launched an investigation to determine the accuracy of such claims and reiterated its strong condemnation of such working conditions.[2]
On May 09, 2008, Banana Republic opened its flagship store on Greenbelt 5 in Makati City, Philippines.
[edit] References
[edit] External links
- Banana Republic · Official Website.
- Banana Republic · Japanese Official Website.
- Banana Republic . Official European Website.
- Banana Republic Consumer Profile
