 Gymboree
Company: Burlingame, California
- Retailer of single brand clothing for children up to seven years of age.
- Product line consists of basic mix and match tops and bottoms in lively colors.
- After their initial success and fast growth in the 1980s and early 1990s, Gymboree shifted their focus from the basic styles by introducing trendy styles to their children's clothing line resulting in lower sales in the late 1990s.
- In 2000, Gymboree reintroduced the earlier merchandise styles and marketing tactics that were the hallmark of their success.
Goal:
- Evaluation of their large real estate portfolio for renovations, relocations, closures, and new locations.
- To effectively carry the message to the retail real estate community and landlords that Gymboree was back on tract.
- Augment the Gymboree in-house real estate department.
- Create a real estate strategy for their new prototype baby store, Janie and Jack.
- Present new opportunities and make recommendations.
Approach:
- Assigned 5 professionals to the project to quickly gain insight into the stores already in operation and make recommendations.
- Created a comprehensive report on all stores relative to kick outs, renewals, and new centers for potential locations.
- Developed a national real estate strategy.
- Conducted market studies to determine the most viable locations within certain regional markets.
- Worked seamlessly with Gymboree corporate headquarters.
- Held monthly real estate committee meetings to continually review and analyze opportunities as they become available.
Results:
- Stores were remodeled and expanded to accommodate new merchandise layouts.
- Store sales went up and occupancy cost ratios were reduced.
- Kick outs were extended.
- The initial rollout for Janie and Jack was completed with locations in high profile centers.
|
|
|
 |
|
|
