Gap Names Former Gymboree Chief as Banana Republic CEO
Gap has named former Gymboree CEO Mark Breitbard as the chief executive of its Banana Republic unit. This move comes at a time when the company is trying to bring the same levels of success its Old Navy brand is seeing to its Gap and Banana Republic segments. "We know what Banana Republic is capable of, and Mark's ability to drive transformation and innovation will help revitalize the brand and position it to achieve its long-term potential," said Gap CEO Art Peck. Breitbard, who will replace Andi Owen, was also previously with Gap North America, Levi Strauss & Co., and Abercrombie & Fitch.
Total Retail’s Take: It’s something so many brick-and-mortar apparel retailers are dealing with right now — the struggle to keep shoppers in stores and the tough competition with fast-fashion chains such as H&M and Zara. Gap’s low-end brand Old Navy is seeing success right now, and Gap is hoping Breitbard can help get Banana Republic back on track.
