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2024-09-22 08:21:10

Gap Inc.

American clothing retailer founded in 1969.
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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1969
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.

1969-04-21
Gap Inc. founded in San Francisco

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

1969-08-21
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.

1970
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.

1971
Gap establishes headquarters in Burlingame

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

1972-10-10
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.

1973
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.

1974
Introduction of private label merchandise

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

1975
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.

1976-05-19
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).

1976-07-30
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.

1978
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.

1979
The Gap Settles Suits and Expands

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

1981
First SuperGap store opens in Concord, California

In 1981, the first SuperGap store, a larger format compared to standard Gap stores, was launched in Concord, California to compete with Miller's Outpost.

1982-12-31
Gap Inc. Stock Split

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

1983
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.

1984
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.

1985
Michael J. Fox wears the Gap Pocket-T in Back to the Future

In 1985, actor Michael J. Fox sports the Gap Pocket-T shirt in the iconic movie Back to the Future, showcasing Gap's clothing in popular culture and increasing brand visibility.

1986
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.'

1987
Gap opens its first store overseas in London

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

1988
Gap expands outside the United States with stores in London

In 1988, Gap made its first international expansion by opening several stores in London, marking a significant milestone in the company's global presence.

1989
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.

1990
Launch of babyGap chain

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

1991
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.

1993
Gap, Inc. Stock Price Reaches All-Time High

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

1994
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.

1995
Gap and GapKids stores open in Tokyo

In 1995, Gap and GapKids stores made their debut inside Tokyo's Hankyu department store, followed by the opening of standalone stores in the city.

1996
First Old Navy store opens in Colma, California

In 1996, the first Old Navy store was launched in Colma, California, drawing inspiration from the successful Gap Warehouse prototype. The brand's new name was influenced by a bar in Paris.

1998
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.

1999
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.

2000
Old Navy Outlet store opens

In the year 2000, the first Old Navy Outlet store was opened, providing customers with discounted clothing options. This expansion allowed Old Navy to reach a wider audience.

2001
Madonna and Missy Elliot star in Gap commercial

In 2001, Madonna and Missy Elliot collaborated in a Gap commercial to promote the Fall season's corduroys and blue jeans. This celebrity endorsement helped boost Gap's marketing efforts.

2002-03
Paul Pressler becomes CEO of Gap

Following Mickey Drexler's departure, Paul Pressler took over as the new CEO of Gap, focusing on restructuring the company by closing underperforming stores and reducing debt.

2003
Old Navy expands to Canada

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

2004
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.

2005-08-24
Launch of Forth & Towne

Forth & Towne, Gap's retail concept targeting women 35 and older, was introduced on August 24, 2005. However, after an 18-month trial period, it was discontinued in 2007.

2006-10-13
Gap participates in Product Red campaign

In 2006, Gap joined the Product Red campaign by launching a special RED collection, including items like a T-shirt made from African cotton. A portion of the profits from these products went to the Global Fund, contributing significantly to the cause.

2007
Glenn Murphy appointed as CEO of Gap, Inc.

In 2007, Glenn Murphy, the former CEO of Shoppers Drug Mart in Canada, was named as the new CEO of Gap, Inc., aiming to lead the company towards a new direction.

2008-01
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.

2009-09-27
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.

2010-10-04
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.

2011-02-01
Resignation of Marka Hansen

Marka Hansen, the executive responsible for the controversial logo change at Gap, resigned on February 1, 2011, following the public outcry and the decision to revert to the previous logo.

2013
Gap Inc. Ranking in World's Most Admired List

In 2013, Gap Inc. was ranked 5th among specialty retailers in the list of World's Most Admired companies.

2013-10
Gap Inc. opens first stores in Brazil

Gap Inc. announced the opening of its initial stores in Brazil in the Fall of 2013.

2015-01
Closure of Piperlime by Gap Inc.

In January 2015, Gap Inc. declared the closure of its subsidiary Piperlime to concentrate on its core brands, leading to the shutdown of the only Piperlime store in SoHo, New York City, in April.

2015-05
Opening of Gap store in New Delhi, India

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

2016
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.

2016-02-20
Launch of Gap stores in Mumbai, India

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

2017
Closure of all Gap stores in Israel

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

2018-09-07
Richard Dickson press conference at the United Nations headquarters

Richard Dickson, who was the President and COO of Mattel, Inc at the time, held a press conference at the United Nations headquarters in New York City on September 7, 2018.

2019-02
Old Navy Spin-off Announcement

In February 2019, Gap announced its decision to spin off Old Navy as a separate brand.

2019-02-28
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.

2019-11
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.

2020-01-16
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.

2020-03
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.

2020-06
Collaboration between Gap Inc. and Yeezy Brand

Gap Inc. announced a partnership with Kanye West's Yeezy Brand, creating Yeezy Gap, with the 10-year contract generating $34.9 million in media impact value.

2020-08
Store closures by Gap Inc. due to COVID-19 pandemic

In August 2020, Gap Inc. revealed plans to shut over 225 store locations, including Banana Republic stores, due to the impact of the COVID-19 pandemic. The number later increased to 350 by 2024.

2020-11
Partnership between Gap Inc. and Afterpay

In November 2020, Gap Inc. collaborated with Afterpay to enhance the digital shopping experience.

2021-09-29
Gap Inc. Reported Net Worth

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

2022-04-26
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.

2024-02
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.

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Gap Inc.
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