Gap, Inc. was originally founded by Doris and Donald Fisher. The company has evolved from a single store located in San Francisco, California into a predominate retail chain that includes the Gap, Banana Republic, Old Navy, Forth & Towne, and Piperlime.com. The company sells a huge variety of clothing from casual to chic for men, women, and children.
The 21st century has brought hard times to this extremely successful company, especially Gap adult stores and the company is losing market share. Key problems with the company have been identified and the follow solutions have been offered: increase supply chain streamlining and efficiency, decrease number of stores, hire creative staff to focus on fashion styles and trends, …show more content…
The 21st century has brought hard times to this extremely successful company. The company is losing market share and even came under question about its labor practices in other countries ("The Gap, Inc.," 2006). Most recently, CEO Paul Pressler left the company in January 2007. Bob Fisher, son of the Gap founders, has become interim CEO and will be leading the search for a new leader for Gap (O'Loughlin, 2007).
STORES IN GAP, INC
Gap, Inc. currently has five brands: Gap, Banana Republic, Old Navy, Forth & Towne, and Piperlime. Each store brand targets a certain market in regards to price, age, and style. The Gap brand name features not only Gap adult stores, but GapKids, babyGap, GapMaternity, GapBody, and GapOutlet (Gap.com, 2007). The Gap “offers iconic American style to customers of all ages” (“About Gap, Inc.,” 2007). The adult store carries men’s and women’s clothing and accessories that help the individual express their “own personal sense of style” in updated, casual clothing (About Gap, Inc., 2007). The store carries mostly basics including: jeans, T-shirts, sweatshirts, polos, and khakis. The Gap brand has expanded into GapKids, babyGap, and GapBody although those stores have not seen the financial decline