The global fashion market should grow by 64 billion dollars in five years, according to Kantar. Approximately half of that will come from five major players: Fast Retailing, Inditex, H&M, TJX and Old Navy.
Amazon Fashion has launched five of its own private-label brands in Europe, but another 103 have already been introduced in the US by the web giant, although it denies claims it is competing with client brands.
The CEO of the American fashion group, who stepped into his role in early 2015, will be succeeded by chairman of the board, Robert J. Fisher, heir of the company's founding family, who takes over as interim CEO.
Gap, Inc. has given an update on the upcoming separation of its businesses into two companies, revealing plans to almost double Old Navy’s physical store count, while the Gap brand will refocus around denim.
Gap Inc posted quarterly same-store sales that fell short of analysts’ estimates on Thursday, as Old Navy suffered its worse comparable sales figures in three years ahead of a planned spin-off of the brand.