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Gap Inc gets its groove back with trendy designs
26
Nov '13
J Crew Group Inc might finally have a challenger in the form of Gap Inc, which despite some customer weariness came back firmly in Q3 and exceeded expectations with a 9.4 per cent increase in net income.
 
San Francisco-based apparel major's USD 337 million net income increase can be attributed to the switch to brighter and younger colors---the trend that its rival J.Crew has been following. J.Crew has an edge over its competitors in the fast-fashion space and is known for its glossy styling and galvanizing prints. 
 
Gap's revenue rose 2.8 per cent to USD 3.98 billion - a key indicator of a retailer's health. 
 
Industry experts believe that with strikingly unconventional winter prints, floral outfits, Gap is all set to compete with its rivals in the upcoming holiday season. Gap has come a long way from being a brand that was synonymous with sober colors and inadequate styling in the 2000's to partnering with designers like Diane Von Furstenberg and management overhauls to turn around their business. 
 
The company is also targeting online world to attract new global customers and has formed new social and digital strategy teams.
 

Fibre2fashion News Desk - India

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