An internal view of a Gap store in Milan, Italy, Friday, Nov. 19, 2010. - Photo by AP.
MILAN: It may sound like coals to Newcastle, but the maker of American casualwear Gap Inc., opened flagship Gap and Banana Republic stores in Italy’s fashion capital on Saturday.
And to draw fashion-loving Italians — An exclusive limited-edition seven-piece line designed by the Valentino fashion house for Gap to herald the Milan opening.
The Milan store is a key part of Gap’s strategy to go after a bigger piece of the $1.4 trillion global apparel market. To date, it has been heavily slanted toward North America, a 26 per cent share, while the rest of the world represents a full 74 per cent.
”If you look at our business, we’re the reverse, only 12 per cent is out of the United States and Canada,” Stephen Sunnuks, the London-based head of Gap’s European division, said on a tour of the new store on the eve of the opening.
The 3,500-square-meter (25,500-square-foot) Gap store was built around a stunning pair of winding marble staircases, now enclosed but which once graced an outdoor passageway on Milan’s Corso Vittorio Emmanuele steps from the famed Duomo cathedral. Officials during World War II covered the marble to prevent it from being looted.
Next door is Banana Republic, a brand that executives have acknowledged had lost its way. It is regaining some fashion ground with the recent line based on the successful TV 1960s period drama ”Mad Men.”
Gap is hoping to tap Italians’ penchant for fashion _ clearly at lower prices than Milan runway mainstays Dolce&Gabbana, Armani, Prada, Versace, Bottega Veneta and Ferre.
”Italians spend three times as much on fashion as in the United States,” said Sunnucks. ”Fantastic Italy!”
Fashion writer Roberta Filippini said the American casual of Gap will find fans among Italians, who already know the brand well from trips to Britain and the United States.
”American sportswear for young people is normal,” said Filippini, noting the success in Italy of Tommy Hilfiger and Abercrombie & Fitch, which also have stores in Milan. ”It will do very well. In the end, Gap is not an American brand but an international brand. Youth is globalized. There is no difference.”
The Gap brand is competing with the likes of fast-fashion icons H&M and Zara, while Banana Republic looks a bit more up market.
Sunnucks said they are pricing Gap items to the Italian market, with jeans starting around euro60 ($82). The Valentino line features classic gray Gap T-shirt and sweat-shirt cotton and also heavier khaki-green cotton jackets, graced with vintage Valentino bows and ruffles. The limited edition line range, which also will be sold in Paris and London, are priced from euro70 to euro150.
After Milan, Gap and Banana Republic will open flagship stores in Rome next year. The brands will then be brought to smaller cities and outlet stores will follow, completing the multi-channel strategy, Sunnucks said. An online retail site for Italy has just opened.
Gap, while a household name in North America, is gaining in brand popularity in Europe, but until Saturday only had stores in Britain, Ireland and France. A previous foray into Germany ended with the brand’s complete withdrawal after the shop expanded too quickly into low-traffic suburbs.
”If we want to go back into big countries like Germany and Spain, we have the strategy,” Sunnucks said.
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