Fashion retail group Gap Inc has announced a new global brand structure which will see International President Steve Sunnucks promoted to Global President.
In a bid to fuel further growth over the coming years the group, which owns Gap, Banana Republic and Old Navy, will bring together its separate divisions under a single global umbrella and it is hoped that Sunnucks‘ experience at senior levels within retailers including Marks & Spencer and New Look will help drive innovation.
Glenn Murphy, Chairman and CEO of Gap Inc said: “Steve is an accomplished fashion retailer who has significantly expanded our International presence.
“I‘m confident he can build upon the success in North America, while also taking Gap to the next level.”
Sunnucks will begin in his new role on November 5th 2012 and a number of other members of the company‘s senior management team will also begin the transition to their new roles on the same day.
Senior Product Leader of the brand in the US and Canada Mark Breitbard will now operate as President of Gap North America, replacing Art Peck who has been appointed President of the new Innovation, Digital Strategy and New Brands Division.
Within this role, Peck will oversee additional investment in digital technology in order to build on the group‘s strong e-commerce offering as part of its new Innovation and Digital Strategy team which aims to further the group‘s leadership position in this area.
Banana Republic‘s established President for North America Jack Calhoun will become Global President of the retailer while retail veteran Stefan Larsson took up his post as Global President of Old Navy earlier this month.
Although its online strategy is a priority for the group, it has been announced that President of its Online Division Toby Lenk is to stand down from his role next February after a smooth transition.
Under his leadership, the online division is set to deliver sales of $2 billion (£1.2 billion)ahead of its 2014 target and Murphy thanked Lenk for his hard work. Toby and his exceptional team have consistently delivered for our customers and shareholders,” said Murphy.
“Our e-commerce team has created a distinctive customer experience in the marketplace, and I am deeply grateful of Toby‘s leadership to the company over the past 10 years.”
Internationally, the group has its sights set on China “given the significant long-term opportunity in China for its brands” and as such its Shanghai team will now be overseen by Murphy in the new fiscal year.
Commenting on the new structure, Murphy explained: “Our strong performance gives us the confidence to make this move to bring each brand together with the goal of gaining market share around the world and enhancing shareholder value.
“The global teams will move even faster in anticipating and responding to the ever-evolving needs of customers, delivering consistently great product around the world.”
