Gap Takes Out Brand Equity Loan
Wednesday, February 3rd, 2010San Francisco-based retailer The Gap took out a brand equity loan last week in order to revive sagging sales and brand awareness numbers, according to sources close to the San Leandro branch of Union Bank of California. The loan, cashing in on decades of brand equity built with highly-acclaimed ad campaigns, is aimed at making the specialty clothier more relevant to the lucrative 13-34 target market after a multi-year slide in popularity and awareness. ”I think it’s a great move,” said Janette Greeley of Retail Roundup. ”Our latest studies show that only 12% of females 13-17 plan to make a purchase at The Gap in the next 30 days, and over 72% of males 18-34 didn’t even know that The Gap still exists. Leveraging decades of amazing advertising to remind people that The Gap offers safe, conservative, and uninspired clothes to go unnoticed in is a great idea. Because let’s face it, who can tell me the last time they bought something – for themselves – at The Gap?”