Premier international specialty retailer The Gap, Inc. (GPS - Analyst Report) recently appointed Marissa Webb as the Executive Vice President of Design and Creative Director of its Banana Republic brand.
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Webb, whose appointment will take effect from Apr 28, will directly report to Banana Republic’s Global President, Jack Calhoun. In her new role, she will be in charge of the brand’s international product design for men, women and accessories segments. Alongside, she will be responsible for directing the overall creative path of the brand.
This eminent fashion designer’s first collection for the brand is anticipated in summer 2015. Popular for her sophisticated modern label, Webb started working independently in 2011, before which she was associated with renowned international brands like Polo, Club Monaco and J. Crew Group Inc. for more a decade in several roles like Head of Womenswear and Accessories Design.
Webb will join Gap and simultaneously continue as the Creative Director and President at Marissa Webb (M Webb LLC). With her incredible design sensibilities and trademark contemporary touch, she is likely to take the brand forward on its path to showcase modern American style.
Moreover, Gap declared its plan to invest in the Marissa Webb label. Webb’s unique collection, which was launched in Barneys New York, is now displayed at more than 30 outlets worldwide. Her collection is also available within the Intemix segment of Gap, apart from being available online.
Gap is a leading player in the highly fragmented specialty retail sector, offering a diverse range of clothing, accessories and personal care products for men, women, children and infants. Its flagship brands include Gap, Banana Republic, Old Navy, Piperlime and Athleta.
The company is making significant efforts to increase its global presence. Over the past few years, it has aggressively expanded its global footprint across emerging markets including China, Russia, South Africa and certain Latin American countries. Gap’s globally recognized brands complement one another, enabling it to leverage its position in the $1.4 trillion global apparel retail market.
Gap currently holds a Zacks Rank #3 (Hold). Other better-ranked stocks in the retail sector include Barnes & Noble, Inc. (BKS - Snapshot Report) , Bon-Ton Stores Inc. and Rite Aid Corp. (RAD - Analyst Report) , all holding a Zacks Rank #1 (Strong Buy).