According to a recent announcement, Gap Inc. plans to open its first Banana Republic store in the United Kingdom in 2008. Although Banana Republic is prominent in the United States and other parts of the world, (Gap opened stores in Japan in 2006) it has not yet broken into the UK market.
“With its affinity for fashion and luxury products, the United Kingdom has the potential to be a strong market for Banana Republic, and our customers in Europe have expressed a great deal of interest in us bringing the brand here," said Stephen Sunnucks, president of Gap Europe. (http://www.ddimagazine.com/displayanddesignideas/headlines/article_display.jsp?vnu_content_id=1003538260).
In order to establish Banana Republic as a well-respected brand in the UK, Gap will need to create a campaign that differentiates the store from other already established brands. This breakout into a new market is also not without competition; according to MarketingWeek, H&M is launching a new brand in the UK named “COS,” which stands for Collection of Style. This brand is meant to be more upscale and will open in the UK next month. Banana Republic is known as an upscale but accessible luxury brand; the public relations strategies used to market this brand and communicate its message will need to explain what makes it different from its competitors.
Why is Banana Republic the better choice? What does it have to offer that other already existing stores in the UK don’t have? Will the launch of the new brand COS prove to be a problem for Gap and the Banana Republic brand? The UK market may prove to be a challenge to break into; or perhaps consumers will take an immediate liking to the brand. I am interested to see what specific market the company targets and what public relations tactics are used to establish credibility and generate interest in the brand.
For more information on this subject, visit MarketingWeek at http://www.marketingweek.co.uk/item/54837/254/260/3.
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I think that Banana Republic will do well in the UK. I spent the 2006 summer in London and found it difficult to find an upscale, affordable clothing store. I think that Banana Republic will be a great addition so London's already bustling fashion industry.
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