October 28, 2010
LONDON, 28 October 2010 – Gap Inc. (NYSE: GPS) today announced that customers in nine additional European countries can shop Gap and Banana Republic online through the launch of its dedicated European e-commerce site. Gap and Banana Republic online customers in these nine additional countries will be able to shop the English language version of the website, pay in British Pounds and have their order shipped right to their doorstep in as little as 2-3 days for an introductory flat rate of £6. This dedicated site was launched to customers in the UK earlier this year.
Orders are fulfilled from the online distribution centre in Stafford, England. Gap Inc. will continue expanding its European reach by offering shipping to more than a dozen additional European countries in early 2011. In addition, early next year European customers outside the UK will have the ability to shop in Euros, while UK customers can continue to shop in pounds.
Stephen Sunnucks, President, Gap Inc. Europe, commented: “I’m thrilled to launch gap.eu and bananarepublic.eu in nine additional countries. More customers throughout Europe now have access to our brands. The European distribution centre enables us to offer an exceptional customer experience within Europe and establish the foundation to continue to expand online shopping.”
The site will provide a faster, easier shopping experience for customers, with reliable, convenient, European shipping where there are no hidden charges or fees. Key features for all European customers include:
- Dedicated European e-commerce site for Gap and Banana Republic.
- Gap Inc.’s innovative “Universality” platform brings its brands together with easy navigation and a universal shopping cart where customers can seamlessly shop Gap, GapKids, babyGap and Banana Republic with one shopping basket, one checkout and one shipping box.
- Fast, reliable shipping from within Europe.
- No hidden charges or fees.
- Safe, secure e-commerce experience.
European Customers (outside the UK)
- Introductory offer of £6 flat rate shipping with fast 2-3 day delivery.
- Simple online returns.
- Free shipping on purchase of £50 or more.
- Free in-store or online returns.
The company will further expand its reach in Europe by opening its first Gap and Banana Republic flagship stores in Italy later this year. Gap Inc.’s global expansion in 2010 includes expanding its e-commerce reach from one country to more than 80 countries through international shipping, opening stores in China and Australia, further expanding online in China and continuing to grow its franchise operations.
Founded in San Francisco in 1969 by Doris and Don Fisher, Gap brand’s original intent was to make it easier for every customer to find a great fitting pair of jeans, with an easy-to-shop store experience. This philosophy lives on at gap.eu where customers can find cool, effortless style, for every occasion in modern life, for all the family - simple, easy to wear pieces that form the foundation of any wardrobe. Building on 40 years of denim experience, gap.eu has the new range of 1969 Premium Jeans - delivering superior fit, finishes and detail at a truly affordable price point.
Bananarepublic.eu offers a range of great versatile wardrobe solutions, delivering elevated design and luxurious fabrications at approachable prices - covetable, uncomplicated style that works from day to night.
Universality was launched in the US in 2008 after Gap Inc. accomplished a complete overhaul of its web sites which put in place a critical foundation that has allowed for continued enhanced functionality and a state-of-the-art shopping environment for customers. Sales for Gap Inc. Direct have grown from $595 million in 2005 to $1.1 billion in 2009.
For a full list of the countries where Gap Inc. ships, please visit Gap.com, BananaRepublic.com, OldNavy.com, Piperlime.com and Athleta.com
This press release contains forward-looking statements within the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. All statements other than those that are purely historical are forward-looking statements. Words such as “expect,” “anticipate,” “believe,” “estimate,” “intend,” “plan,” “project,” and similar expressions also identify forward-looking statements. Forward-looking statements include statements regarding international expansion, including (i) expansion of e-commerce into Europe, China, and other international countries; (ii) retail store openings in China and Italy; and (iii) franchise expansion.
Because these forward-looking statements involve risks and uncertainties, there are important factors that could cause the company’s actual results to differ materially from those in the forward-looking statements. These factors include, without limitation, the following: the risk that the company will be unsuccessful in gauging fashion trends and changing consumer preferences; the risk that changes in general economic conditions or consumer spending patterns will have a negative impact on the company's financial performance or strategies; the highly competitive nature of the company’s business internationally and its dependence on consumer spending patterns, which are influenced by numerous other factors; the risk that the company will be unsuccessful in identifying and negotiating new store locations and renewing or modifying leases for existing store locations effectively; the risk that the company will be unsuccessful in implementing its strategic, operating and people initiatives; the risk that changes to the company’s information technology systems may disrupt its operations; the risk that the company’s efforts to expand internationally may not be successful and could impair the value of its brands; the risk that acts or omissions by the company’s third party vendors, including a failure to comply with the company’s code of vendor conduct, could have a negative impact on the company’s reputation or operations; the risk that changes in the regulatory or administrative landscape could adversely affect the company's financial condition and results of operations; and the risk that the company will not be successful in defending various proceedings, lawsuits, disputes, claims, and audits; any of which could impact net sales, expenses, and/or planned strategies. Additional information regarding factors that could cause results to differ can be found in the company’s Annual Report on Form 10-K for the fiscal year ended January 30, 2010. Readers should also consult the company’s quarterly report on Form 10-Q for the fiscal quarter ended July 31, 2010.
These forward-looking statements are based on information as of October 28, 2010. The company assumes no obligation to publicly update or revise its forward-looking statements even if experience or future changes make it clear that any projected results expressed or implied therein will not be realized.
About Gap Inc.
Gap Inc. is a leading global specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Banana Republic, Old Navy, Piperlime, and Athleta brands. Fiscal 2009 sales were $14.2 billion. Gap Inc. operates about 3,100 stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan. In addition, Gap Inc. is expanding its international presence with franchise agreements in Asia, Australia, Europe, Latin America, and the Middle East. For more information, please visit www.gapinc.com.
For more information contact:
+44 20 7149 1491
1(800) 333-7899, ext. 75900, option 1