Gap Inc. plans to move its Manhattan offices downtown without downsizing the staff.
The San Francisco-based retailer is consolidating its two New York creative offices into a 200,000-square-foot space at 40 Worth Street in TriBeCa, putting the creative teams from the Gap and Banana Republic divisions — including designers, technicians and production personnel, as well as some business functions that support the corporate office — under one roof. The teams will be phased into the new site starting next year and finishing by the end of 2012.
“There’s no downsizing as a result,” said Gap spokeswoman Louise Callagy. “There are financial benefits in combining in one place over the long term.” Short-term, however, Gap will incur costs associated with the move. She declined to disclose the number of staffers involved in the relocation.
“It’s a creative neighborhood,” Callagy said of TriBeCa. “Creative talent is a big part of our business.”