shopaholic's seoul

Gap, Banana Republic to Open Shops

Actress Lucy Liu is wearing Gap's little black sweater dress in this photo taken by acclaimed photographer Annie Leibovitz. / Courtesy of Gap By Cathy Rose A. Garcia Staff Reporter Shopaholics get ready, as well-known fashion brands are finally coming to Seoul. American retailing giant Gap and its more upscale sister company Banana Republic are opening shops in Seoul on Aug. 24. Shinsegae International, a unit of Shinsegae Co., is bringing in Gap and Banana Republic through a franchise agreement with Gap. Inc. The Gap brand is known for its classic designs and comfortable basics such as T-shirts and jeans, while Banana Republic is described as an ``accessible luxury brand offering high-quality apparel and accessories.'' As part of the agreement, Shinsegae will have exclusive rights to operate Gap and Banana Republic stores in Korea. Both brands will be available at the Shinsegae Main Department Store. Gap will have its flagship store in Myeong-dong and will also be available at the Shinsegae Department Store in Gangnam, while Banana Republic will have its flagship store in Apgujeong-dong. Japanese actor Ken Watanabe is wearing a classic tailored white shirt from Gap. A spokesman for Shinsegae International said Gap will carry the adult, kids and baby line of clothes and accessories. Gap and Banana Republic will be offering their fall collection at the stores. This fall, Gap's women's collection features men's wear inspired clothing with feminine details, such as striped shirtdresses, tailored blazers and cute vests. The spokesman also said the Banana Republic line features items, described as luxurious both in materials and design, which will cater to the discerning Korean customer. This includes sophisticated suits, quality leather bags and stylish shoes. The buzzword is ``urban elegance'' for Banana Republic's fall collection. Classic American sportswear is given a modern twist, with inspiration from 80's fashion. Key pieces include shimmering cocktail dresses, oversized hounds tooth jackets, as well as wide-leg trousers and cropped trapeze jackets. Gap Inc. is a leading specialty retailer offering clothing, accessories and personal care products under the Gap, Banana Republic, Old Navy and Piperlime brands. Gap Inc. operates more than 3,100 stores, of which 1, 199 stores are in the United States alone. In Asia, there are Gap stores in Japan, Singapore, Indonesia, Malaysia and India. Meanwhile, Spanish clothing brand Zara is also reportedly planning to open its first store in Seoul. A spokesman for Lotte Group said there are on-going talks with Zara, but there is no confirmation yet. However, Industria de Diseno Textil SA (Inditex), parent company of Zara, announced in March 2006 that it had already signed a joint venture agreement with the Lotte Shopping Company Ltd. to launch Zara in the country. At that time, Inditex said the first Zara store will be opened in Seoul by the end of 2006. The fashionable Spanish brand is known for its chic but affordable line of trendy clothes for women and men. It usually takes inspiration from the hottest runway looks and translates it to wearable items for a wider audience. Zara is Europe's largest fashion retailer, followed by Sweden's Hennes & Mauritz also known as H&M. Zara has already made inroads around Asia, opening stores in Japan, China, Indonesia, Singapore, Hong Kong, Malaysia, Thailand and the Philippines in recent years. The Gap, Banana Republic and Zara would have to compete with homegrown brands, as well as other foreign retailers such as Spain's Mango, Hong Kong's Giordano and Japan's Uniqlo which have already established their presence in Korea. Fierce competition is expected among these retailers. Hopefully, the Korean consumers will benefit with better quality products and competitive prices.