NEW YORK (CNN/Money) - Gap Inc. CEO Paul Pressler hinted Tuesday that the apparel retailer has two new concepts in the works that would extend the retailer's offerings beyond its three iconic brands of Gap, Banana Republic and Old Navy.

Pressler, speaking at the Credit Suisse First Boston retail conference in New York, said Gap has been exploring ways to harness "35 years of brand building experience" and is looking at "age demographics" and a separate "value concept that goes beyond Old Navy" to fuel the company's organic growth

"We are determining how best to pursue each opportunity, whether growing an existing brand or creating new brands," Pressler said, but did not offer more details during his presentation, which was monitored in New York via webcast.

"This is the first that I've heard of Gap actually revealing what their growth plan is for the brand," said Morningstar analyst Joseph Beaulieu.

"I think the Gap had to come up with something new. It's possible they're trying to target the baby boomers next." Beaulieu added. "Old Navy has been driving growth for the Gap Inc. but it's starting to slow. Its namesake Gap stores are facing market saturation, and the higher-priced Banana Republic brand is a niche concept. Banana Republic has been doing great but there's a limited opportunity to expand it further."

In Gap's earnings call with analysts in May, Pressler had indicated that the company was "actively exploring new growth opportunities," including brand extensions or even acquiring other companies in its bid to expand.

To be sure, San Francisco-based Gap Inc. (GPS: Research, Estimates), the No. 1 apparel retailer, with about 3,000 stores, has enjoyed a turnaround after successfully reversing past missteps.

According to Beaulieu, Gap's attempt a few years back to lure younger, trendier customers with styles outside its core competence was a disaster and resulted in the resignation of longtime CEO Mickey Drexler.

"The tactic did not expand Gap's customer base. It only served to alienate its more traditional, khaki-wearing crowd," Beaulieu said. "As sales tanked, the company slashed prices to liquidate excess inventory. In the process, Gap gained a reputation as a rampant discounter, and the brand lost some of its cachet."

But things seems to be getting back on track. In May, the retailer posted its 20th consecutive quarter of comparable sales gains and its seventh consecutive quarter of earnings growth.

And shares of Gap Inc., up about a 6 percent year-to-date, are trading near their 52-week high.

Industry watchers say that under Pressler, who is credited with crafting Gap's turnaround, the retailer has done a better job of differentiating its three core brands and reviving its image through creative ad campaigns. The company recentlysigned on actress Sarah Jessica Parker to headline Gap's 35th anniversary campaign.

More importantly, the company is learning who its customer is and what they want.

Pressler said Tuesday that Gap, which for the first time is using outside market research firms, would soon establish a team of design and merchandise experts to help the retailer better understand local markets and trends outside of the United States.

"Getting consumer research can make a big impact on their business down the road," said one analyst who did not want to be named.

Beaulieu agreed. "This could help Gap get new ideas for merchandising, which it could bring back to the U.S.