|
|
Article: Yes, we have plans for new Bananas throughout city: Banana Republic adds stores, goods as parent Gap Inc. aims higher in NY.
- Article from:
- Crain's New York Business
- Article date:
- March 24, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
On the heels of the successful New York launch of Old Navy, Gap Inc. is planning to bolster its Banana Republic division in the city this year with an ambitious expansion program and the addition of home-related merchandise.
Manhattan will see as many as a half-dozen new stores, including sites at Grand Central Terminal and South Street Seaport. Meanwhile, several of the existing Banana Republic locations are to be converted to women's-only stores. And the chain is looking to expand its New York flagship at Fifth Avenue and 52nd Street by 50% to roughly 20,000 square feet.
With total sales volume of $870 million, the 226-store Banana Republic chain is Gap's ...