Mutibranding Strategy - Gap Inc
Branding is a crucial aspect of marketing. Defined as, "any word, device (design, sound, shape, or color), or combination of these used to distinguish a seller's products or services (Keren, McGraw-Hill), branding can take many forms. A rather interesting kind of branding is the multi branding strategy. A company can do this by giving each product a distinct name, which is useful when each brand is intended for a different market segment (Keren, McGraw Hill). A great example of this is Gap Inc., which has numerous brands, the most popular being Old Navy, Gap, Banana Republic, Athleta, and Intermix. Old Navy and Gap are the day-to-day style clothing, Banana Republic is mostly business casual and professional, Athleta is athleisure, and, lastly, Intermix is higher-end, luxury clothing. With $16 billion in revenue in fiscal year ended February 1, 2020, it is clear that this multi branding strategy is paying off. An example of Gap Inc. grouping brands An interesting part of th