Catching up on the latest marketing and advertising news has never been easier! Read our rundown of the stories you need to know this week.

Old Navy Breaks from Gap Inc.

Last week, parent company Gap Inc. let go of its highest-performing brand, Old Navy, spinning it off into its own company. The split leaves several brands, including Gap Stores, Athleta and Banana Republic, with the original corporation. The lower-priced Old Navy brand has performed well recently with bargain shoppers, while higher-priced Gap and Banana Republic have struggled to keep up with consumers’ changing preferences. Old Navy has boasted an annual revenue of $8 billion, while the other three brands combined only reached $9 billion.

In addition, Gap will close 230 Gap store locations in the next two years. Experts expect other similar retailers to follow suit in coming years. The split is intended to give the rest of Gap Inc. a chance to address its problems and get back in touch with its audience. Can Gap and Banana Republic reestablish their relevance in today’s market? Learn more here: https://adage.com/article/cmo-strategy/gap-to-spin-off-old-navy/316805/

Victoria’s Secret to Close 53 Stores

Gap isn’t the only traditional major retailer facing financial struggles. Last week, Victoria’s Secret announced plans to close 53 stores this year amid declining sales. The news comes after mounting criticism of the brand’s advertising. Victoria’s Secret has long been associated with its “Angels” supermodels, racy ads and annual runway show. This year, Ed Razek, CMO of Victoria’s Secret’s parent company, stated in an interview that they would not include plus-size models or “transsexuals” in the runway show, because the show is meant to be a fantasy.

While Victoria’s Secret has steadily declined, similar brands like Aerie and ThirdLove have seen increases in sales. These brands are known as advocates for body positivity and use “real women” to model their products. Do you think Victoria’s Secret will adapt to changing consumer attitudes or stick with what they know? Read on here: https://www.businessinsider.com/victorias-secrets-store-closure-sparks-mockery-2019-3

A Retro Ad for Coca-Cola’s New Flavor

To promote its new orange vanilla soda flavor, Coke has released a retro-style TV commercial, complete with a high-speed car chase straight out of the 70’s. Of course, in its classically light-hearted way, the race is between an ice-cream truck, truck of oranges and Coca-Cola van. Both the ad and drink intend to bring back consumers’ memories of positive, carefree summer days and classic orange dreamsicles.

The new commercial supports the release of the first new Coke flavor in more than ten years. In addition to TV ads, Coke will roll out social media promotions, online ads, experiential marketing and billboards customized by region. The campaign will ramp up heavily during the upcoming March Madness basketball tournament. Find out more here: https://www.forbes.com/sites/amybarnes/2019/02/25/coke-scores-with-retro-feel-creative-campaign-introducing-orange-vanilla-coke/#47be61916fbd

Oh, the Places Farmers Insurance Will Go

Last Saturday, March 2, would have been Dr. Seuss’ 115^th birthday. To celebrate, Farmers Insurance released an animated read-along video of Seuss’ book Oh, The Places You’ll Go! The ad takes viewers through a world of real, Dr. Seuss-like insurance claims that the company has actually covered.

Farmers Insurance is known for using real-life claim examples in its advertising to educate its audience about insurance. Farmers’ head of brand marketing, Leesa Eichberger, said the campaign is intended to “celebrate our long-standing support of learning and education,” and notes that the similarities between their campaign and Seuss’ stories “allow us to share in his whimsical world in an authentic way.” Check out the video here: https://www.thedrum.com/news/2019/02/27/ads-we-farmers-insurance-honors-dr-seuss