Gap had introduced the mid priced premium jeans – 1969 – in 2009 and had created ripples in the denim market. Having worked over the supply chain for a couple of years, Gap was able to introduce the 1969 jeans and was able to make an impact in the denim market which it was rapidly losing over the last few years. The following year also saw some revival in the financial fortunes of Gap.
Though there had been mixed signals on the success of 1969 Jeans , the recent addition of a retail location in Manhattan signals that the 1969 premium brand of Gap is doing well. The brand, recently signed a long-term lease for what will be a 2,800-square-foot Gap 1969 store at 513 Broadway, New York , between Spring and Broome streets in Soho. The shop will primarily sell the company’s Gap 1969 denim collection, along with some apparel from Gap’s regular collections.
This will be the third 1969 store for Gap in the US – the other two being Los Angeles and Chicago . The addition of the new store seems all the more important because it is estimated that Gap has not added a new store in New York for over 7 years.
This new development is in line with the improved denim sales in US in 2010 and bodes well for the denim industry for the coming times.