Monday, April 20, 2009

Clothing Bailout?

Its no surprise that some companies will not last through 2010, or even 2009.  Online site 24/7 Wall Street just compiled a list of brands that they thought definitely won't survive and there was one that came as a total shock....GAP!

The Gap brand is made up of 3 separate brands, all very well-known, Gap, Banana Republic, and Old Navy.  According to the site, sales have been down almost 14 percent, but they predict that out of the three, Old Navy will be the one to fold.

Both Gap and Banana Republic have made big moves to step up their game.  Gap brought in Patrick Robinson and Banana Republic brought in Simon Kneen and also hosts a fashion show during fashion week which brings out every editor.  Gap also reels in big names for their ad campaigns borrowing the faces of the hottest celebrities and models.  Old Navy, however, does have extremely low prices but has yet to bring in any celebrity or well-known designers to launch a collection and this season, they hired NO models and used talking mannequins to sell the clothes.

Hopefully, Old Navy can pull it together, but these days only the hot survive.  Unless of course the government is willing to take some of the AIG bonuses to bail out poor Old Navy...

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