Gap Inc. is an American multinational clothing and accessories retailer that was founded in 1969 by Donald Fisher and Doris F. Fisher. The company is headquartered in San Francisco, California and operates five primary divisions: Gap, Old Navy, Banana Republic, Athleta, and Intermix. Gap offers a range of casual clothing for men, women, and children, while Old Navy provides value-priced clothing and accessories for the entire family. Banana Republic offers more upscale clothing, shoes, and accessories for men and women, and Athleta offers athletic wear for women. Intermix operates as a boutique clothing store featuring luxury fashion brands.
Gap Inc. went public in 1976, and it was one of the largest initial public offerings of its time. The company has experienced both successes and struggles throughout its history, with some of its most successful periods occurring in the 1990s and early 2000s. The company's success during these years was largely attributed to its ability to capitalize on trends in the fashion industry, particularly in denim and khaki clothing. However, the company began to struggle in the late 2000s due to increased competition from other clothing retailers and a decline in consumer spending during the economic recession.
In response to these challenges, Gap Inc. has made several strategic changes in recent years. In 2011, the company announced plans to close approximately 20% of its underperforming stores and focus on expanding its online presence. In addition, the company has made efforts to improve its sustainability practices, including launching a water-saving initiative and investing in sustainable cotton farming.