July 2, 2022

Anneke Knot grew up with what she calls a “Banana Republic mother.” Within the early- to mid-aughts, Knot says, there was no chicer retailer on Planet Earth — of that she was sure. This was within the age of enterprise informal and Stacy London, the place kitten-heeled sling-backs accessorized voluminous belts and aubergine blouses. And there was Banana Republic, on the coronary heart of all of it.

Finally, it was Knot’s flip to purchase grownup garments like those Banana Republic as soon as made so nicely. However for the final decade, the retailer has gone the best way of its fellow mall manufacturers, struggling to promote clothes that appeals to in the present day’s buyers. This, as ever, spelled bother: Within the fourth quarter of 2020, father or mother firm Hole Inc. reported a $16 million internet loss, with Banana Republic’s same-store gross sales dropping 2% from 2019 ranges. The pandemic did not assist issues, however cannot be blamed fully.