Whoever becomes Gap’s new leader won’t be the first of its CEOs to face challenges.
Fisher planned to call the store Pants and Discs, but his wife Doris came up with the winning name:"The Gap," shorthand for generation gap.The Gap capitalized on the rise of denim as the go-to look for a generation of young Americans and then expanded into khakis, t-shirts, tops, hoodies and other basics. The brand won over everyone from moms to office workers to celebrities like Sharon Stone, who wore a black Valentino skirt and a $26 mock Gap turtleneck to the Academy Awards in 1996.
" Gap also cannibalized its own brand with similar styles at Old Navy and Banana Republic, he added:"It was smart the way they built out their portfolio, but even those created its own form of competition to the Gap brand." Gap has tried several strategies to revitalize its flagship brand, including a partnership with Kanye West for a line of Yeezy-branded clothing. But the partnership hasn't meaningfully lifted sales.
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