Banana Republic 2005 Annual Report Download - page 6

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And, most importantly, we put strong leaders in place to drive Gap’s turnaround.
In 2006, the team is focused on creating quality product faster, upgrading the
environment of our top 200 adult stores, and developing inventive marketing to
create buzz that Gap is back.
Banana Republic’s affordable luxury positioning clearly differentiates the brand
in the market. Our customers expect to fi nd their wardrobe essentials at Banana
Republic; so in 2006, we are emphasizing key items and more approachable
fashion in our product assortments. We are also evolving our marketing to better
refl ect this focus. The launch of Banana Republic’s high-quality handbag collection
has been very successful, and is an example of how we’ll continue to extend the
brand. In 2006, we look forward to introducing a personal care line through an
exclusive partnership with Inter Parfums, Inc.
At Old Navy, value remains an important part of the brand
proposition, but our customers also expect to fi nd special,
trend-right product. Delivering on this proposition requires
that we develop product in a shorter time frame so we can
quickly react to customer response and market trends.
Now that Old Navy’s designers are based in San Francisco,
they’re working more dynamically with the merchandising
and production teams on a daily basis. And they’re traveling
to factories to make decisions more quickly and gain visibility
to new innovations. To better showcase Old Navy’s specialty
product, in 2006 we will be upgrading our stores’ visual merchandising, supported
by the kind of creative marketing that helped make the brand famous.
Investing in our people and our communities
We remain committed to attracting, developing and retaining top talent in our
industry. In 2005, we launched a new executive development program and we
are also investing in leadership training for new managers. We have re-organized
some of our teams to support more effective ways of working. In some cases,
this has required bringing in new leaders who have the unique abilities to drive
our turnaround, reinvigorate the creative spirit of our brands and harness the
ideas of our teams. Our people always have been and will continue to be the
heart of our company.
Ultimately, it’s the passion and
commitment of our people that
will drive our results and help us
realize our long-term vision.
4
gap inc. 2005 annual report