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"I've been working for Gap Inc. for several years, and the most frequently asked question is: 'When will Banana Republic move here?'" said Anita Borzyszkowska, vice president of public relations at Gap Inc.
"It has the biggest brand recognition already in the U.K., particularly in London."
Borzyszkowska stressed the launch was a tentative step for Banana Republic in the European market, and that any subsequent rollout plans would depend on the response to the London debut.
She said she was confident about the offering: "The clothes are a little more of an investment, but are still accessible. We offer a great service proposition, too. It's 'high street premium.'"
Industry figures are enthusiastic as well about the brand's arrival. "Banana Republic has always been known here, particularly by people who travel," said Deborah Fitzgerald, marketing director at Interbrand. "It's an interesting time in the U.K., too, because people are turning away from cheap fast fashion to more premium middle-ground brands, and Banana Republic sits perfectly within that category."
The new store occupies the corner of the former historic Dickens & Jones building on Regent Street, and spans 17,000 square feet over three floors.
Borzyszkowska declined to give sales projections, but real estate sources said the annual rent is about 1 million pounds, or $2 million at current exchange.
The store offers the complete Banana Republic range of men's and women's wear, with the latter making up roughly 60 per cent of the space. In addition, there are dedicated sections for petites, accessories and beauty.
Monogram men's and women's wear sections are also a key element. The limited edition line, which focuses on pared-down styles in luxurious fabrics such as cashmere and silk gabardine, began exclusively as a men's line two seasons ago. For spring, it will be a 30-piece collection for both men and women.