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By the 1930s the company owned 3.5 million acres (14,000 km 2) of land in Central America and the Caribbean and was the single largest land owner in Guatemala. Such holdings gave it great power over the governments of small countries. That was one of the factors that led to the coining of the phrase "banana republic". [9]
They went on to purchase Banana Republic, a small, two-store mail-order catalogue business; and also founded Old Navy which reached $1 billion in sales in four years. [2] Fisher served as CEO until 1995, chairman of the board until 2004, and as company director and chairman emeritus until his death. [2]
They are the founders of Banana Republic, a clothing and accessory retailer. [1] Alongside William Rosenzweig, they co-founded The Republic of Tea. They eventually sold both companies. [2] [3] The Zieglers subsequently founded another apparel company, Zoza, [2] [3] [4] but this was shut down in the dot com crash of 2000. [5]
Including both company-owned and franchised stores, as of June 2018, there were Gap, Banana Republic, Athleta, Intermix, or Old Navy stores in 43 countries. [64] In January 2008, Gap signed a deal with Marinopoulos Group to open Gap and Banana Republic stores in Greece, Romania, Bulgaria, Cyprus, and Croatia. [65]
Cover of Cabbages and Kings (1904 edition). In the 20th century, American writer O. Henry (William Sydney Porter, 1862–1910) coined the term banana republic to describe the fictional Republic of Anchuria in the book Cabbages and Kings (1904), [1] a collection of thematically related short stories inspired by his experiences in Honduras, whose economy was heavily dependent on the export of ...
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Since banana exports came to dominate the overseas trade and most of the foreign exchange earnings of Central American countries, and the companies could use their financial clout as well as carefully established connections with local elites, they had great influence over politics in those areas, leading O. Henry, who lived in Honduras (which ...
The Holt Renfrew Centre at Mink Mile. Mink Mile has been recognized as one of the most luxurious shopping streets in North America, being compared to New York's Fifth Avenue, Chicago's Magnificent Mile, and Los Angeles' Rodeo Drive. [3]