Marketing

Gap, Walmart partner on home brand

Photo by istock.com

June 1, 2021

Gap is teaming up with Walmart on a home brand and the effort signifies a "new chapter" for the apparel retailer, according to Gap CEO Sonia Syngal.

The partnership will benefit from the "scale" of Walmart with the "cool" of Gap, Syngal told CNBC's Jim Cramer on his Mad Money program.

The brand will be called Gap Home and launch with 400 products on Walmart's online site as well as its brick-and-mortar locations.

The move reflects a "restructuring" of Gap's business model and monetizing the brand, Syngal said. It is the first time Gap is moving out of the apparel category, according to the report.