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Gap Inc.

American clothing retailer founded in 1969.

Gap Inc., commonly known as Gap, is an American clothing and accessories retailer founded in 1969. It operates under divisions including Gap, Banana Republic, Old Navy, and Athleta. The company is headquartered in San Francisco, California, and is one of the largest specialty retailers in the United States.

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Timeline

Rapid expansion of Gap stores

After the successful launch of the first Gap store in 1969, Donald G. Fisher rapidly expanded the chain, growing it into a $100 million business with 200 stores. This expansion marked the significant growth and success of the Gap brand.

Gap Inc. founded in San Francisco

On April 21, 1969, Donald and Doris Fisher established Gap Inc. in San Francisco, California.

Opening of the first Gap store

Don Fisher opened the first Gap store near City College on Ocean Avenue in Ingleside, San Francisco. The store initially offered only Levi's apparel and LP records to attract teen customers.

Opening of the second Gap store in San Jose

The second Gap store opens in San Jose, with half of the 6,500 square feet space configured as a stock room. Gap also starts selling Levi's for women.

Gap establishes headquarters in Burlingame

In 1971, Gap established its corporate headquarters in Burlingame, California.

Gap Logo Trademarked

In 1972, Gap successfully trademarked their monochromatic logo with the United States Patent and Trademark Office, solidifying its status as one of the most recognizable logos in the country.

Expansion into the East Coast market

By 1973, Gap had over 25 locations and had expanded into the East Coast market with a store in the Echelon Mall in Voorhees, New Jersey, broadening its customer base.

Introduction of private label merchandise

In 1974, Gap began to sell private label merchandise, diversifying its product offerings and establishing its own brand identity.

Gap Inc. Stores Generate $100 Million in Net Sales

By 1975, Gap Inc. stores generated $100 million in net sales, crucial for the company's health.

Gap Inc. Initial Public Offering

On May 19, 1976, Gap Inc. conducted its initial public offering at $18 per share ($0.11 adjusted for all subsequent splits).

Gap Inc. Common Stock Trading on NYSE

On July 30, 1976, Gap Inc. started trading its common stock on the New York Stock Exchange under the ticker symbol GPS.

Banana Republic Acquisition

In 1978, Gap Inc. acquired Banana Republic, adding another well-known brand to its portfolio. Banana Republic is known for its classic and sophisticated clothing.

The Gap Settles Suits and Expands

In 1979, The Gap settled suits for $5.8 million and expanded, including the establishment of Banana Republic.

Gap Inc. Stock Split

On December 31, 1982, Gap Inc. implemented a 3 for 2 stock split, adjusting the price of the shares accordingly.

Gap purchases Banana Republic

In 1983, Gap acquired Banana Republic, a move that expanded their product offerings and solidified their position in the retail market. This acquisition was a key step in Gap's strategy to diversify and grow its brand portfolio.

Introduction of iconic pocket t-shirt by Gap

In 1984, Gap introduced their iconic pocket t-shirt in 21 diverse colors, which became a staple in their collections and a popular choice among customers.

Gap Logo Redesign

In 1986, Gap underwent another logo redesign where they introduced a new style featuring a white wordmark inside a blue square. The new logo, now reading 'GAP' in uppercase letters, also dropped the word 'the' from the previous versions, earning the nickname 'Blue Box.'

Gap opens its first store overseas in London

In 1987, Gap expanded its operations internationally by opening its first store in London.

Debut of the iconic blue square Gap logo

In 1989, Gap introduced its now-iconic blue square logo, replacing the previous round, lowercase letters logo that had been in use since 1969.

Launch of babyGap chain

The babyGap chain was launched in 1990 and proved to be highly successful.

Levi's Products No Longer Sold in Gap Stores

By the end of 1991, Gap announces that it will cease selling Levi's products in its stores, marking a significant shift in the retail offerings of Gap.

Gap, Inc. Stock Price Reaches All-Time High

The Gap, Inc. stock price reaches an all-time high of $59.

Launch of Old Navy

Old Navy, a clothing and accessories retail brand, was launched in 1994 as a more affordable alternative to Gap Inc.'s main brand.

Old Navy Reaches $1 Billion in Annual Sales

Old Navy achieves a milestone by reaching $1 billion in annual sales, becoming the first retailer to accomplish this in less than four years.

Gap named 'Company of the Year' by San Francisco Chronicle

In 1999, Gap received the prestigious title of 'Company of the Year' from the San Francisco Chronicle, which significantly boosted their sales and overall growth.

Old Navy expands to Canada

Old Navy, a brand under Gap Inc., starts its international expansion by opening stores in Canada.

Don Fisher steps down as Chairman of Gap Inc.

Don Fisher, the founder of Gap Inc., resigns as Chairman of the Board but remains on the board of Directors with the honorary title Chairman Emeritus.

Gap and Banana Republic stores expansion in Greece, Romania, Bulgaria, Cyprus, and Croatia

In January 2008, Gap signed a deal with Marinopoulos Group to open Gap and Banana Republic stores in Greece, Romania, Bulgaria, Cyprus, and Croatia.

Death of Donald Fisher

On September 27, 2009, Gap Inc. co-founder and chairman Donald Fisher passed away, leaving a legacy in the company that he helped establish.

Gap Introduces New Logo

In an attempt to create a more modern image, Gap unveiled a new logo on October 4, 2010, designed with the Helvetica font and reducing the prominence of the iconic blue box. However, due to public backlash, the company reverted to the original logo within a week.

Opening of Gap store in New Delhi, India

Gap now has a store in New Delhi, India which opened in May 2015.

FORTUNE's Great Place to Work List Inclusion

Gap Inc. was named to FORTUNE's Great Place to Work list in 2016, recognizing it as a great workplace.

Launch of Gap stores in Mumbai, India

On February 20, 2016, Gap launched stores in Mumbai at Oberoi Mall and Infinity-2.

Closure of all Gap stores in Israel

In 2017, Gap closed all seven of its stores in Israel.

Split of Old Navy from Gap Inc.

On February 28, 2019, Gap Inc. announced the split of Old Navy from the company, making Old Navy an independent entity. This move aimed to separate the older brands like GAP and Banana from the newer brands like Athleta and Hill City.

CEO Art Peck Steps Down

In November 2019, Gap announced that CEO Art Peck would be leaving the company, leading to immediate changes in leadership.

Reversal of Old Navy and Gap Inc. Split

On January 16, 2020, Gap Inc. announced the reversal of the decision to split Old Navy from the company, aborting the separation.

Sonia Syngal Appointed as Gap Inc. CEO

In March 2020, Sonia Syngal, a former Old Navy executive, was appointed as the CEO of Gap Inc. She implemented cost-cutting measures and secured $2.5 billion in funding to revitalize the company.

Gap Inc. Reported Net Worth

As of September 29, 2021, Gap Inc. had a reported net worth of $9.28 billion.

Gap Inc. Collaborates with Kanye West's Yeezy Brand

In 2022, Gap Inc. announced a partnership with Kanye West's Yeezy brand to release a collection of t-shirts and sweatshirts. This collaboration led to a significant increase in the company's stock price, although the excitement was short-lived.

Zac Posen appointed as Creative Director

In February 2024, Gap Inc. appointed American fashion designer Zac Posen as the Creative Director, bringing his expertise to the brand and Old Navy.

End of the Timeline
Gap Inc.

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