Gap and Zalando Announce Pan-European Partnership
New Ecommerce Channel will Help Reach New Audiences and Support Gap's Global Growth Strategy
NEW YORK & BERLIN - November 24, 2014 - (BUSINESS WIRE) - Gap brand and Zalando, Europe's largest online fashion web site, have today announced a partnership that will see Gap open its own dedicated online shop within Zalando. The American retailer will offer a broad assortment of clothing and accessories for Gap Women, Gap Men, GapKids and babyGap, bringing the brand to a broader European customer base beginning Summer 2015.
"This partnership represents Gap's first foray into multi-brand retailing in Europe. Also for the first time, Gap's collections will be styled alongside other brands available on Zalando, providing customers with new looks to combine American and European casual style," said Stefan Laban, SVP International for Gap. "Zalando is the most trafficked ecommerce fashion site in Europe with more than 100 million visits to the site per month. This partnership is a strategic step that will see us continue to grow our brand presence in these markets."
Gap has had a long history in Europe having launched the first Gap Inc.-operated international store in the UK in 1987. Since then, Gap has continued to grow its presence throughout the continent with 190 company-operated stores and 33 franchise locations. The Zalando partnership will complement Gap's own brand online presence that currently ships to 24 countries.
"We are constantly working to ensure that we are offering our around 14 million active customers new and relevant brands from around the world. Gap is one of the most loved brands in the US and extends our assortment," said David Schneider, Member of Zalando's Management Board. "Fashion lets us express our personalities, allows us to be creative and to celebrate our style, Gap embodies this and so does Zalando," added Claudia Reth, Fashion Director at Zalando. "We encourage our customers to combine different brands and styles so they can put together their own perfect outfit."
This press release contains forward-looking statements within the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as "expect," "anticipate," "believe," "estimate," "intend," "plan," "project," and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding the following:
- opening of dedicated Gap brand online shop within Zalando in 2015; and
- growing Gap brand presence in European markets.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following:
- the risk that changes in global economic conditions or consumer spending patterns could adversely impact our results of operations;
- the highly competitive nature of our business in the United States and internationally;
- the risk that we will be unsuccessful in gauging apparel trends and changing consumer preferences;
- the risks associated with importing merchandise from foreign countries, including failure of our vendors to adhere to our Code of Vendor Conduct, could have a negative impact on our reputation or operations;
- the risk that we are subject to data or other security breaches that may result in increased costs, violations of law, significant legal and financial exposure, and a loss of confidence in our security measures, which could have an adverse effect on our results of operations and our reputation;
- the risk that natural disasters, public health crises, political crises, or other catastrophic events could adversely affect our operations and financial results, or those of our vendors;
- the risk that changes in the regulatory or administrative landscape could adversely affect our financial condition, strategies, and results of operations; and
- the risk that we will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits.
Additional information regarding factors that could cause results to differ can be found in the company's Annual Report on Form 10-K for the fiscal year ended February 1, 2014, as well as the company's subsequent filings with the Securities and Exchange Commission.
These forward-looking statements are based on information as of November 24, 2014. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
Gap is a global apparel and accessories brand focused on delivering casual, American style. The brand offers classic iconic clothing that helps customers express their individuality through its Gap, GapKids, babyGap, GapMaternity and GapBody collections. With an optimistic point of view and belief that everyone can make their creative mark in the world, Gap embodies what it means to be bright. Founded in San Francisco in 1969 by Donald G. Fisher and Doris F. Fisher, the brand has grown from one store to over 1,700 company-operated and franchise retail locations around the world. Gap is the namesake brand for leading global specialty retailer, Gap Inc. (NYSE:GPS) which includes Gap, Banana Republic, Old Navy, Piperlime, Athleta, and Intermix. For more information, please visit www.gapinc.com.
Zalando (https://corporate.zalando.com) is a leading pure-play online fashion destination in Europe for women, men and children. We offer our customers a one-stop, convenient shopping experience with an extensive selection of fashion articles including shoes, apparel and accessories, with free delivery and returns. Our assortment of over 1,500 international brands ranges from popular global brands, fast fashion and local brands, and is complemented by our private label products. Our localized offering addresses the distinct preferences of our customers in each of the 15 European markets we serve: Austria, Belgium, Denmark, Finland, France, Germany, Italy, Luxembourg, the Netherlands, Norway, Spain, Sweden, Switzerland, Poland and the United Kingdom. Our logistics network with three centrally located fulfillment centers in Germany allows us to efficiently serve our customers throughout Europe. We believe that our integration of fashion, operations and online technology give us the capability to deliver a compelling value proposition to both our customers and fashion brand partners.
Zalando's websites attract more than 100 million visits per month with over 40% coming from mobile devices as at 30 June 2014, resulting in more than 13.7 million active customers. After six years of operations, our business has grown to €2.0 billion in revenue for the twelve-month period ended June 30, 2014.
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