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This statistic highlights Gap Inc’s Revenue by Brand, split across Old Navy Global, Gap Global, Banana Republic Global, Athleta, and Others segments, reported on a quarterly basis from Q1 2016 onwards.
Revenue by Brand
The following table highlights Gap Inc’s Revenue by Brand in some of the recent quarters.
|Brand||Q3 2020||Q2 2021||Q3 2021||Revenue Mix by Brand for Q3 2021|
|Old Navy Global||$2,242||$2,390||$2,105||53.39%|
|Banana Republic Global||$386||$495||$479||12.15%|
(All figures in millions, except percentages)
Old Navy is an American apparel brand that makes current essentials feasible to everyone. They opened their first store in 1994 in the United States and since have expanded to more than 1,200 stores, including company-operated stores in Canada and Mexico and franchise stores around the world.
This brand contributes the highest revenue to Gap. Every quarter it generates about $2 billion. However, during Q1 2020, there was a shortfall in revenue, with it getting almost halved to $1.04 billion. Even on a QoQ and YoY basis, it dropped by 12% and 6% respectively.
Founded in San Francisco in 1969, Gap is an iconic apparel and accessories brand. Gap produces all types of clothes including denim, tees, fleece, and khakis, along with other trends. They even create apparel and accessories for adult men and women under the Gap name, in addition to GapKids, babyGap, GapMaternity, GapBody, and GapFit collections. They even launched Gap Teen in 2020. In 1987, Gap opened its first store outside North America in London and continues to connect with customers around the world through specialty, online, and franchise stores.
Gap generates the second-highest revenue for the company. On average, as much as one-fourth of the total revenue comes from this brand. On a Q0Q basis, the revenue increased by 6.7% as compared to a 4.6% YoY increase. However, there is a declining trend in revenue since 2016. It fell from a record-high $1.61 billion in Q4 2017 to $1.04 billion in Q3 2021. Gap has a peak season in the fourth quarter each year. There is a general pattern in revenue, with the first quarter contributing the lowest in the year, followed by upward increments in the subsequent quarters and the peak season.
Banana Republic is a global apparel and accessories brand that was acquired in 1983 as a travel and adventure outfitter. They use the finest materials with the latest fabric innovations to create modern and versatile clothing, eyewear, jewelry, shoes, handbags, and fragrances. Customers can purchase Banana Republic products globally in their specialty, factory, online, and franchise stores.
On a QoQ basis, there was a 3% decline in the revenue from this brand. However, on a YoY basis, the revenue increased by 24%. In recent years, Banana Republic has faced a decline in revenue growth.
Athleta is a premium fitness and lifestyle brand that creates attractive, technical, and sustainable apparel for women and girls. It was established in 1998 and later acquired by Gap Inc. in 2008. They integrate technical features and innovative design across their women’s collection, which is suitable for yoga, training and sports, everyday activities, and travel.
Athleta has also been certified as a benefit corporation (B Corp). Additionally, Athleta’s legal charter was amended and it became a Delaware public benefit corporation. On a QoQ basis, Athleta’s revenue has declined by 6%. However, on a YoY basis, the revenue generated has increased by 9.6%.
This segment primarily consists of brands like Hill City, Intermix, and Janie and Jack as well as sales from the business-to-business program. However, these brands are either closed or divested. The Hill City brand was closed in January 2021. The divestiture of Janie and Jack was completed on April 8, 2021, and that of Intermix on May 21, 2021.
These brands together have contributed significantly to the total revenue, especially during Q4 2020. However, they no longer contribute additional revenue as the company has disinvested from these brands.
About the company
The Gap, Inc. is a group of lifestyle brands offering apparel, accessories, and personal care products for all genders of all age gap under the Old Navy, Gap, Banana Republic, and Athleta brands. They sell their products to customers through Company-operated and franchise stores, company-owned websites, and third-party arrangements. Gap has company-operated stores in the U.S., Canada, the U.K., France, Ireland, Japan, Italy, China, Taiwan, and Mexico. They even have franchise agreements with unaffiliated franchisees to operate their brand stores throughout Asia, Europe, Latin America, the Middle East, and Africa.
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