During its annual meeting with investors today, Gap Inc. said it would focus on growing its core brands, as well as its online and international businesses over the next year.
“We remain focused on improving results at our core brands, while pursuing strategic growth opportunities online and internationally,” said Glenn Murphy, Gap’s chairman and CEO, in a statement.
As part of its growth strategy, the company said it would shift marketing initiatives for the Gap brand to a mix of traditional and nontraditional media. Gap is not planning to run TV ads for the remainder of the fiscal year. It will, however, launch a campaign dubbed “Vote for ____” that targets voters.
“Gap brand’s top priorities for 2009 are driving traffic, executing on its real estate strategy and improving productivity,” Marka Hansen, president of Gap North America, said in a statement.
Gap also outlined top priorities for its Old Navy and Banana Republic brands. In 2009, the company will focus on improving product assortments, driving traffic and executing on a new store design for Old Navy. It has hired agency Crispin Porter + Bogusky, Miami, to handle creative that appeals to young moms