Though not expected alongside Coach or Tory Burch, Walmart and Old Navy appeared at New York Fashion Week (NYFW) to draw attention to their latest fashion endeavors.
The debut: For its first-ever fashion week, Walmart partnered with American sportswear designer Brandon Maxwell on a pop-up showroom featuring the retailer’s exclusive new collections from Free Assembly and Scoop.
- Walmart announced Maxwell as the creative director of the two fashion brands in 2021, hoping to appeal to cost-conscious consumers seeking trendy clothing.
- Since then, Walmart continued to focus on fashion, remodeling some stores to better feature its apparel brands and relaunching its Gen Z-focused fashion brand, No Boundaries.
The retailer is launching the Walmart Style Tour, a 40-event nationwide tour featuring curated brands and styles, fashion tips from experts, and personalized giveaways.
The throwback: Old Navy popped up at NYFW with a limited-edition collection and a ’90s-themed party to celebrate the brand’s 30th anniversary.
- The ‘94 Reissue limited-edition collection, available online and in-store, reimagines retro Old Navy designs for today.
- Old Navy will promote the line across digital media, social media, brand channels, and out-of-home (OOH) placements in New York City.
This nostalgia-fueled campaign is part of parent company Gap Inc.’s attempt to reconnect with consumers and revitalize its brands.
- The company named designer Zac Posen as creative director of Gap Inc. and chief creative officer at Old Navy in February, signaling a new creative direction.
- Since his appointment, Gap Inc. has stayed in the headlines via partnerships with celebrities like Da’Vine Joy Randolph, who wore one of Posen’s creations to the Met Gala, and Anne Hathaway, who wore a custom Gap dress to a red carpet event—a version of which sold out hours after debuting on Gap’s site.
The bottom line: While we don’t expect Walmart or Old Navy to join the high-fashion ranks soon, leveraging NYFW to drive consumer awareness is smart, especially with many feeling financially squeezed and looking for cheaper—but trendy—alternatives.
- Over a third (34%) of US consumers plan to spend less on apparel over the next three months, according to an August 2024 survey from McKinsey & Company.
- The holidays could be a bright spot for online retailers that sell apparel, like Walmart and Old Navy—we forecast US holiday ecommerce sales of apparel, footwear, and accessories will grow 11.0% this year to reach $56.65 billion, the third-fastest growing category we track.
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