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The Gap, Inc., [6] commonly known as Gap Inc. or Gap, is an American worldwide clothing and accessories retailer. Gap was founded in 1969 by Donald Fisher and Doris F. Fisher and is headquartered in San Francisco, California. The company operates four primary divisions: Gap (the namesake banner), Banana Republic, Old Navy, and Athleta.
The Gap was a resounding success and filed for an IPO in 1973. [2] They went on to purchase Banana Republic, a small, two-store mail-order catalogue business; and also founded Old Navy which reached $1 billion in sales in four years. [2]
By 2015, Old Navy's yearly sales had reached $6 billion per year in the United States, almost equaling those of Gap Inc.'s Gap and Banana Republic divisions combined. [18] Larsson left the company to join Ralph Lauren in 2015 and was replaced by current President and CEO, Sonia Syngal. [19]
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