Gap (company)
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Gap Inc. headquarters building
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| Public | |
| Traded as | |
| Industry | Retail |
| Founded |
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| Founder | |
| Headquarters | San Francisco, California, U.S. |
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Number of locations
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Area served
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Worldwide |
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Key people
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| Products | |
| Revenue |
 US$15.855 billion (2017)
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US$1.479 billion (2017)
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US$848 million (2017)
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| Total assets |
US$7.989 billion (2017)
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| Total equity |
US$3.144 billion (2017)
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Number of employees
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~135,000 (December 2017) |
| Subsidiaries |
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| Website | www |
The Gap, Inc., commonly known as Gap Inc. or Gap, (stylized as GAP) is an American worldwide clothing and accessories retailer.
It was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates five primary divisions: Gap (the namesake banner), Banana Republic, Old Navy, Intermix, Weddington Way, and Athleta. Gap Inc. is the largest specialty retailer in the United States, and is 3rd in total international locations, behind Inditex Group and H&M. As of September 2008, the company has approximately 135,000 employees and operates 3,727 stores worldwide, of which 2,406 are located in the U.S.
The Fisher family remains deeply involved in the company, collectively owning much of its stock.Donald Fisher served as Chairman of the Board until 2004, playing a role in the ouster of then-CEO Millard Drexler in 2002, and remained on the board until his death on September 27, 2009. Fisher's wife and their son, Robert J. Fisher, also serve on Gap's board of directors. Robert succeeded his father as chairman in 2004 and also served as CEO on an interim basis following the resignation of Paul Pressler in 2007, before being succeeded by Glenn K. Murphy up until 2014. On February 1, 2015, Art Peck took over as CEO of Gap Inc.
In 1959, Don Fisher, a California commercial real estate broker specializing in retail store location, was a social friend of Walter Haas Jr (aka Wally), President of Levi Strauss & Co. Don was inspired by the sudden success of 'The Tower of Shoes' in an old Quonset Hut in a non-retail industrial area of Sacramento (decidedly a terrible retail location), that drew crowds by advertising that no matter what brand, style or size of shoes a woman could want it was at The Tower of Shoes. And knowing that even Macy's, the biggest Levi's customer, was constantly running out of the best selling Levi's sizes, and colors, Don asked Wally to let him copy The Tower of Shoes' business model and apply it to Levi's products. Wally deferred Don to Bud Robinson, his Director of Advertising for what Wally assumed would be a quick refusal; but instead Bud and Don carefully worked out a legal test plan for what was to become The Gap (named by Don's wife Doris Fisher).
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Wikipedia