Banana Republic CEO Departs, Signaling A Return To Fashion ‘Fundamentals' After Misstep Into Home [Forbes]
Gap, Inc. (The) (GPS)
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Source: Forbes
News just broke that Banana Republic's president and CEO Sandra Stangl has been shown the door. While a company spokesperson replied “No comment” to my request, an internal memo from Gap Inc. CEO Richard Dickson stating: “As we close out the first quarter of the year, Sandra and I have agreed to transition to new leadership for Banana Republic.” He added, “Each of our brands are focused on fixing the fundamentals to drive both relevance and revenue. Sandra and the teams have begun to lay the foundation to reestablish the brand to thrive in the premium lifestyle space. And I look forward to identifying a new leader to take Banana Republic to the next level.” Fixing the fundamentals is just what the next leader at Banana Republic must do because Stangl thoroughly messed them up by taking the fashion brand that was already in trouble and expanding into the PROMOTED Relevance and revenues suffered as the brand took its eyes off the prize and ventured far from its mandate in fashi
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