Gap's (NYSE: GPS ) growth plans include a concerted effort to tap further into the $1.4 trillion global retail apparel market, according to a statement released along with today's investor meeting.
Old Navy, one of Gap's six brand lines, was mentioned as a key part of its international expansion plans, including franchising Old Navy stores in "key international markets," and possibly building on Gap success in China by adding company-run Old Navy and Banana Republic stores in that country.
Management also shared that Gap intends to build up its existing online capabilities, developing an end-to-end, omnichannel platform to address changes in consumer shopping habits as "the retail landscape continues to merge online and brick-and-mortar shopping experiences." The system is meant to leverage capabilities including ship-from-store, find-in-store, and reserve-in-store.
"Over the next five years, key to our continued success will be pushing the envelope further to make shopping seamless to customers through our digital strategy, while seizing the opportunity for Old Navy in many untapped international markets," CEO Glenn Murphy is quoted as saying.
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