Banana Republic wants to become a player in the home category. The BR Home collection, which is available starting Tuesday, retails from $40 for washed cotton pillowcase sets to $7,550 for luxurious, handmade rugs woven in the Atlas Mountains in Morocco.
The line comes as Banana Republic looks to expand beyond fashion into lifestyle, Rose told WWD.
“As we considered the home space, we developed our product line with our core customer in focus as well as our new elevated brand positioning. Our new home line offers a range of accessible and premium styles. For example, our washed cotton percale sheet set starts at $195 and our luxurious cotton-cashmere silk sheet set is priced at $550,” Rose said.The new home collection builds upon last fall’s launch of ART, Curated by Banana Republic, a collection of exclusive works from artists and photographers.
Many fashion retailers have gotten into home decor, including Ralph Lauren, Vince, Gucci, The Webster, La DoubleJ, Moda Operandi, Missoni Home, Anthropologie, Urban Outfitters, Matchesfashion.com, H&M, Zara, L.L. Bean and Kate Spade. For the fourth quarter ended Jan. 31, Gap reported a $273 million loss and a 6 percent sales decline. Gap and Banana Republic plan to shutter between 50 and 55 stores as the company continues to downsize its fleet of stores. Neil Saunders, managing director of GlobalData, told WWD earlier this month that Banana Republic has had “a nice run of growth,” but stumbled due to store closures, a shift away from work-casual styles and a lack of newness over the holiday.
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