Gap Inc. retail chain Old Navy has just added The Martin Agency to the roster of shops it works with, the companies have confirmed.
Most of the details about the new partnership remain under wraps for now, but the firms did disclose TMA is working on a new campaign that will launch in May.
The agency’s appointment comes at a tumultuous time for the client and its parent GAP Inc.
About a year ago, the company announced plans to spin off Old Navy as a separate publicly traded company. But after a tough 2019 sales-wise for the brand, those plans were scuttled last month.
Late last year, Gap CEO Art Peck parted ways with the company. Interim CEO Robert Fisher stated last month the spinoff was scrapped because the company’s board of directors concluded: “The cost and complexity of splitting into two companies, combined with softer business performance, limited our ability to create appropriate value from separation.”
Fair enough. I guess investors aren’t enthusiastic about putting their money on a company with flagging sales.
Also last month, Gap Inc. announced the departures of CMO Alegra O’Hare and Gap brand CEO Neil Fiske. The company is scheduled to issue Q4 and full-year 2019 financial results on Thursday.
A company representative, confirmed TMA’s appointment, added: “At this time, we are not offering any further details/interviews, but will be sharing more closer to the content launch.”