Gap Bets on Bags to Revive Fashion Cred

Gap is venturing into the accessories market with a new handbag collection, GapBag, designed by industry veteran Reed Krakoff. This initiative is a key component of Gap's strategy to rejuvenate its brand image and cultural relevance by transforming familiar wardrobe staples like denim and hoodies into fashionable accessories.

The GapBag line includes various styles such as totes, shoulder bags, and pouches, with designs heavily inspired by Gap's iconic apparel. For instance, the Five-Pocket Tote incorporates elements like belt loops and stitching from classic jeans. The first collection is slated for release online and in select North American Gap stores on September 8.

This expansion into accessories is part of Gap's wider revival efforts, which include high-visibility marketing campaigns and premium offerings like the GapStudio label. These initiatives aim to recapture the brand's defining status from the 1990s and early 2000s. The company reported a 10% increase in comparable sales for its most recent quarter ending August 1.

Gap is targeting the substantial $15 billion accessories market with price points ranging from $29.95 to $148, with a limited-edition patchwork denim tote available for $498. Richard Dickson, CEO of Gap, expressed confidence that accessories can be a distinct and impactful business category for the brand, an area where Gap has historically lacked clear direction or conviction.