Banana Republic Heading to Tokyo

Gap Inc. (San Francisco) has announced plans to expand its Banana Republic brand to Japan. Three stores are scheduled to open in Tokyo shopping areas in fall 2005, with additional openings to follow in spring 2006.

Gap officials say Japanese consumers' affinity for fashion and luxury products make the country a strong market for Banana Republic. The brand currently has more than 450 stores and annual sales of more than $2 billion in North America.

“Many Japanese tourists and business travelers are loyal shoppers at our Banana Republic flagship locations in cities such as New York, Los Angeles and San Francisco,” said Gap president and ceo Paul Pressler. “We're often asked, 'When is Banana Republic coming to Japan?' We're pleased to bring Banana Republic to Tokyo, making Japan the brand's first market outside of North America.”

Gap currently is the company's only brand operating outside of North America, with about 240 store locations in the U.K., France and Japan. Gap brand opened its first store location in Tokyo in 1995. Today, the company operates about 75 Gap stores in such cities as Osaka, Nagoya, Kobe, Fukuoka and Tokyo, including a flagship store in the city's Harajuku district.

Andrew Rolfe, president of Gap Inc.'s International Division, will oversee Banana Republic's expansion in Japan. A Japan-based merchandising team will tailor style, color and fit assortments to satisfy customer preferences in the Japanese market. The Banana Republic Japan team will leverage the design, marketing talent and operational expertise of Banana Republic's North American team, led by Marka Hansen, brand president for Banana Republic.

“As we grow internationally, we're balancing the global strength and appeal of our brands with a sensitivity toward local customer style and fashion preferences,” Rolfe said. “Japan offers an exciting fashion market with sophisticated shoppers. We look forward to serving them with the Banana Republic brand.”

Gap Inc. is specialty retailer offering clothing, accessories and personal care products for men, women, children and babies under the Gap, Banana Republic and Old Navy brand names. Fiscal 2003 sales were $15.9 billion. As of October 30, Gap Inc. operated 3051 stores in the United States, the United Kingdom, Canada, France and Japan.