Banana Republic 2011 Annual Report Download - page 19

Part I
Item 1. Business.
General
The Gap, Inc. (Gap Inc., the “Company,” “we,” and “our”) was incorporated in the State of California in July 1969 and
was reincorporated under the laws of the State of Delaware in May 1988.
Gap Inc. is a leading global specialty apparel company. We offer apparel, accessories, and personal care products
for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands.
Our global portfolio of distinct brands crosses multiple channels and geographies, which gives us a compelling
business proposition and a competitive advantage in the retail marketplace.
Gap Inc. has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan,
China, and Italy. We also have franchise agreements with unaffiliated franchisees to operate Gap and Banana
Republic stores throughout Asia, Australia, Eastern Europe, Latin America, the Middle East, and Africa. Under these
agreements, third parties operate or will operate stores that sell apparel and related products under our brand
names. We have more than tripled our franchise store base from the end of fiscal 2007 to 227 stores at the end of
fiscal 2011. Our products are also available to customers online in over 90 countries through company-owned
websites and using a U.S.-based third party that provides logistics and fulfillment services. Most of the products
sold under our brand names are designed by us and manufactured by independent sources. We also sell products
that are designed and manufactured by branded third parties.
Gap. Founded in 1969, Gap is our flagship brand and remains one of the most iconic apparel brands in the
marketplace today. The brand stands for casual, American style – at accessible price points. Assortments include
well-designed apparel for men and women, including denim, khakis, outerwear, tees, and accessories. In addition
to designing its own merchandise, Gap offers limited “capsule” collections in partnership with some of the
fashion industry’s best-loved designers and other third-party merchandise from time to time.
Gap entered the children’s apparel market in 1986 with GapKids and in 1989 with babyGap. Maternity apparel
was later added to the collection. In 1998, we launched GapBody, which offers loungewear, sleepwear, intimates,
and active apparel for women. Today, Gap products are available globally in our specialty and outlet stores,
online, and in franchise stores.
Banana Republic. Banana Republic is a global, multi-channel brand that is a destination for modern, versatile
work wear for both men and women.
Acquired in 1983 with two stores, Banana Republic has evolved to offer collections that include apparel,
handbags, shoes, jewelry, personal care products, and eyewear for men and women at higher price points than
Gap brand. Today, customers can purchase Banana Republic products in our specialty and outlet stores, online,
and in franchise stores.
Old Navy. Old Navy opened its first store in 1994, offering customers great product at great prices. The brand
targets young families, with a focus on providing a fun shopping environment and value-priced apparel. Today,
Old Navy continues to offer on-trend selections of value-priced apparel, shoes, and accessories for adults,
children, and babies, as well as other items, including a maternity line and consumables. Customers can
purchase Old Navy products in stores in the U.S. and Canada and online, which includes online-exclusive items
such as a plus-size line.
Piperlime. Launched in 2006, Piperlime is an online fashion boutique. The brand offers customers a fresh and
unique mix of private label and leading brands in footwear, apparel, and accessories for women and men, as well
as footwear for kids. Customers will also find exclusive advice, tips, and trends from leading style experts.
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