San Francisco’s Union Square, suffering from store closings due to high incidents of homelessness and crime and depressed shopper traffic, got a lift with the opening of a Banana Republic flagship at 152 Geary Street.
Nordstrom, Express, Anthropologie and CB2 are among the 40 or so retailers that have abandoned Union Square and surrounding streets. But Banana, which is part of the San Francisco-based Gap Inc., isn’t giving up on its hometown. Its two-level, 3,500-square-foot flagship, opened in the heart of the city’s historic district, showcases the brand’s expanding assortment and transformation into a lifestyle label with the recent addition of home products.
“Our Banana Republic Geary Street store is our brand’s pinnacle flagship, showcasing our continued transformation in our historic hometown,” Sandra Stangl, Banana Republic president and chief executive officer, said in a statement Wednesday.
The store has a selection of ready-to-wear, accessories and the newly launched BR Home collection of seating, dining furniture and lighting installation designed to complement the apparel collections.
“As seen recently with the opening of our BR Home New York City and L.A. pop-ups, we’re continuing to expand our store footprints, discovering what works, thinking about interesting and innovative ways to reach our customers, and imagining what we may do next,” Stangl said.
Last month, Banana Republic introduced furniture, lighting and decor to its BR Home Collection, in another step ahead toward evolving into a true lifestyle brand, one that’s less dependent on men’s and women’s fashion. “We started with textiles last spring. Now we have a more cohesive collection,” Stangl told WWD at a dinner at the Aman New York hotel to officially unveil the new home products.
“We’ll keep expanding our home assortment over time,” said Stangl, without divulging any home categories for the future. Much could be introduced, be it glassware, tabletop, storage, organization, outdoor patio, bed and bath or small kitchen gadgets.
In the second quarter ended July 29, Banana Republic generated net sales of $480 million, which were down 11 percent compared to last year’s second quarter. Comparable sales were down 8 percent. For all of 2022, Banana generated $2.12 billion in volume versus $1.98 billion in 2021.
Banana Republic on San Francisco’s Union Square.
