The US apparel giant Gap Inc. last week revealed that the name of the company’s new women’s apparel retail concept is Forth & Towne. At the company’s investor update meeting Paul Pressler, President and Chief Executive Officer of Gap Inc. said: “Launching the brand Forth & Towne, which focuses on women over the age of 35, represents an important long-term growth opportunity for Gap Inc.”
Forth & Towne will be the newest concept in Gap Inc.’s stable of brands, which includes Gap, Banana Republic and Old Navy. The new brand will launch in four test stores in Chicago and one in New York in the fall of 2005. Forth & Towne offers a wide range of sizes and assortments for many different occasions. The emphasis of the brand is on fit.
Gary Muto, President of Forth & Towne said: “We created an address with the name ‘Forth & Towne’, because we wanted it to evoke a sense of place – to signify a special and unique shopping destination. ‘Forth’ references our fourth brand, and ‘Towne’ conveys a sense of community that we want to create for our customers when they shop with us.”
The development of the new brand was first announced on 15 September 2004. It targets the fast growing segment of women over 35. This segment is known for its group spending power, which accounts for approximately 39 per cent of women’s total apparel expenditures.
Gap Inc.’s fiscal sales for 2004 amounted to $16.3 billion (GBP 9.24 billion). The company operates about 3,000 stores in the US, the UK, Canada, France and Japan.