Background of GAP
GAP is an American clothing and accessories retailer based in San Francisco, California. It is a part of the group with the same namesake ‘The GAP, Inc’. It was founded in 1969 as a single store by Donald G. Fisher and wife Doris. The store's merchandise consisted of Levi's and “Long Playing” records; later they came up with their own private label in 1974.
The GAP, Inc today is one of the world's largest specialty retailers, with approximately 3,100 stores and fiscal 2009 revenues of $14.2 billion. Gap, Inc. has more than 135,000 employees and operates over 3,465 stores worldwide. Stores in Canada, France, Ireland, Japan, UK, and US (and Puerto Rico) are company-owned stores. Stores outside of these countries are owned and operated by franchisees.
GAP Inc. operates five of the most recognized apparel brands in the world. These are:
* Gap * Banana Republic * Old Navy * Piperlime * Athleta
The culture at GAP helps us understand why the brand is such a huge success. It mainly emphasizes on keeping its customers first and it continuously works on quality of its clothes to meet customer’s expectations. It always looks for different ideas and new ways of working, inspiring creativity. GAP works with integrity and believes in giving back to the Society. It meets all its goals by taking responsibilities and setting priorities.
Chronological evolution of GAP: * 1969: Opens the first store on Ocean Avenue in San Francisco * 1970: Sales reach $2 million. Second store opens in San Jose, Calif. * 1974: First private label store opened. Launches "Fall into the Gap" campaign * 1976: Gap goes public offering 1.2 million shares of stock on the NYSE * 1986: The first GapKids store opens in San Mateo, Calif. * 1987: The first GAP store outside the United States opens in London, England * 1990: The babyGap line is born, debuting in the GapKids