GAP New CEO Brewing Shop Is Expected To Increase By 30-40 In China

The new official takes up three fires.

According to the latest news from the US media, the CEO Art Peck of Gap Inc. (GPS.NYSE), who took office earlier this year, said it was looking for ways to reset it.

New road.

This involves Peck's 3 sales, upgrading the company's electricity supplier, mobile terminal and full channel retail capabilities.

The new CEO revealed that 3680 stores around the world will "inevitably" be reduced in size and quantity.

This old American brand was founded in 1969.

The retail giant, once a popular fashion brand in the world, now has five brands (Gap, Banana Republic, Old Navy, Piperlime, Athleta) and many chain stores, but it has been in a weak state recently.

Gap recently released its sales performance in February, with total revenue falling 1% to $918 million, while same store sales decreased by 4% compared to the same period last year, lower than analysts expected to increase sales by 1.4%.

The company entered the Chinese market in November 2010. As of last year, the number of stores in mainland China, Hongkong and Taiwan will exceed 100.

RET Rui Yide China commercial real estate research center, which provides data to reporters, shows that Gap has 97 stores in China in the three quarter of last year and 10 new stores in the fourth quarter.

Despite the rapid expansion of Gap in the Chinese market, many apparel retailing analysts are not optimistic about the brand. In their view, in the competitive Chinese market, the style of Gap is not suitable for the Asian style, the price is not competitive, and the new product is not updated fast enough.

Gap seems to have realized his shortcomings and intends to make adjustments.

GAP now has 10 months from product design to store entry, and this cycle is three times that of Zara and H&M.

Peck hopes that the next cycle will be reduced to about 30 weeks. He points out that reducing product design to store cycle is equally important, and this is also the key to competition with other fast fashion products.

In addition, he is still trying some new ideas, such as updating the sample room, mobile phone registration mode, electronic wall display mode, clothing RFID identification technology, and possibly setting up Gap vending machine.

A person close to Gap said in an interview with reporters that he had never heard of it.

On the contrary, China is considered by Gap to be the most dynamic market in the world, and Gap is confident of the Chinese market.

According to the person, Gap is expected to add 30-40 stores in China in 2015.