Banana Republic’s president and CEO, Sandra Strangl, has left the company after four years at the helm.
Richard Dickson, president and CEO of Gap, Inc., the parent company of Banana Republic, wrote in an internal memo that circulated on April 1 and reported by WWD, said, “As we close out the first quarter of the year, Sandra and I have agreed to transition to new leadership for Banana Republic.
“Since Sandra joined the brand in December 2020, Banana Republic has made dramatic shifts to elevate the aesthetic and explore tangential categories that help us imagine the true potential of this brand.
“Each of our brands are focused on fixing the fundamentals to drive both relevance and revenue, and we have made progress across the portfolio,” Dickson wrote. “At Banana Republic, Sandra and the teams have begun to lay the foundation to reestablish the brand to thrive in the premium lifestyle space.
“We see a significant opportunity for this brand, and we have made progress over the past quarter setting the stage for improved future performance. And I look forward to identifying a new leader to take Banana Republic to the next level.
“While we search for a new leader to build on Banana Republic’s vision and potential, I will work closely with the brand leadership team to advance our fiscal 2024 goals, concluded Dickson.”
Gap, Inc. will report its first quarter fiscal 2024 financial results on May 30.
Images courtesy Banana Republic
