New York (CNN)Gap and Walmart have teamed up to launch Gap Home, a Gap-branded home decor, bedding, tabletop and bath collection set to debut next month.
The collection of more than 400 items, including products made with organic cotton and recycled materials, will be sold exclusively on Walmart.com beginning June 24. Gap (GPS) has been trying to turn itself around under its CEO Sonia Syngal, who took over last year and has focused on reviving Gap’s namesake brand. Part of that effort involves expanding into new areas for sales growth.
Last May, Gap announced a deal with global licensing company IMG to help expand its brand beyond apparel to other categories such as home decor, baby equipment and furniture as a way to grow its market and attract new customers.
As masks fall out of fashion, Etsy sellers ask themselves, 'now what?'Gap Brand CEO Mark Breitbard said Gap Home was the “first foray” into those new areas. “It’s breaking new ground for us. We want to learn fast and think big,” Breitbard said during an interview with CNNBusiness.Read More
Gap is partnering with Walmart to launch Gap Home, its first home decor collection.He said Gap Home will be a multi-year partnership with Walmart (WMT), the largest retailer in the United States. “When you look at the scale that Walmart has, a key part of this [deal] is that it’s a way to bring new customers to the Gap brand. So scaling through Walmart, which already has expertise in home, is a slam dunk.”The collection features items like a pillow made from light chambray material for $16 and a King size reversible comforter set made from soft jersey material for $65. Bold colors and ruffles: People are buying dresses againFor Walmart, the deal allows it to become more competitive in the home category through exclusive offerings at accessible prices, said Anthony Soohoo, executive vice president of Walmart’s home division.
It’s not the only one expanding in the category through partnerships. In late February, Target (TGT)launched a limited-edition exclusive collection of home decor and pet accessories with denim brand Levi’s. “Home has been an area where the customer has spent more time [in the last year],” Soohoo told CNNBusiness. “As we get out of the pandemic, we have a new appreciation for home.”
Source: edition.cnn.com