Gap Inc. Partners With IMG to Leverage Its Iconic Brands Through Strategic Licensing
Multi-Year Partnership to Focus on Highly Selective Partnerships and Collaborations That Extend Gap, Banana Republic and Janie and Jack Across New Markets, Categories and Channels of Distribution
SAN FRANCISCO - (BUSINESS WIRE) - May 01, 2020 - Gap Inc. (NYSE: GPS) today announced it has appointed global licensing leader IMG as its first ever multi-brand, exclusive licensing representative. Through this partnership, IMG will deliver cross-category product extensions that increase existing consumer touchpoints while engaging with and introducing new audiences around the world to Gap Inc.’s beloved and trusted portfolio of brands.
IMG will first focus on Gap, Banana Republic and Janie and Jack, extending their reach and helping bring to market complementary products that embody the company’s distinct brand labels: Gap for casual, optimistic American style and expertise in elevated essentials; Janie and Jack’s modern twist on classics for kids and babies; and Banana Republic’s iconic, modern style designed for a life with no boundaries. IMG will also support GapKids and babyGap, leveraging the strong multi-generational trust and emotional connections these brands have developed for quality and practical “go-to” needs when raising children.
The companies are exploring categories including baby equipment and baby care, home décor and textiles, and furniture.
“Gap Inc. operates a portfolio of strong, globally relevant brands that are familiar, trusted and highly marketable across multiple demographics. We are excited to explore new market segments and complementary points of product distribution for Gap, Banana Republic and Janie and Jack in an asset-light way that harnesses their individual strengths,” said Roy Hunt, Head of Gap Inc. Franchise and Strategic Partnerships. “This partnership with IMG presents a unique opportunity for us to bring our fashion and lifestyle brands to life in new ways for customers around the world, while still maintaining the creative integrity that make each of our brands so distinctive and recognizable in the marketplace.”
“Over the past 50 years, Gap Inc. has created a portfolio of powerful brands that have established themselves firmly in popular culture and with consumers around the world. These brands are household names that we all trust, and have purchased and lived in,” said Bruno Maglione, President of Licensing, IMG. “Distribution channels and consumer purchasing habits have evolved significantly since Gap’s founding, and never more so than in the last few years. As one of the world’s leading fashion retailers, Gap Inc. recognizes this omnichannel opportunity and the power of its brands to attract existing and new consumers from more than one angle and via more than one format. We are proud to be partnering with them on this bold new strategic move, which we believe will highlight consumer affection for these brands while showcasing their relevance in everyday life.”
About Gap Inc.
Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City brands. Fiscal year 2019 net sales were $16.4 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through company-operated stores, franchise stores, and e-commerce sites.
IMG is a global leader in sports, fashion, events and media. The company manages some of the world’s greatest athletes and fashion icons; owns and operates hundreds of live events annually; and is a leading independent producer and distributor of sports and entertainment media. IMG also specializes in licensing, sports training and league development. IMG is a subsidiary of Endeavor, a global entertainment, sports and content company.
SOURCE Gap Inc.
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