GAP.com
GAP
GAP Inc, San Francisco, is one of the world largest specialty retailers having more than 3100 stores, revenues of more than US $15.9 billion and 150,000 dedicated employees. Don Fisher the Founder and Chairman of the company is committed to the fulfilling the basic customer need of making “it easier to find a pair of jeans”. Today GAP Inc deals with five popular apparel brands of the world –Gap, Banana Republic, Old Navy, Forth &Towne and Piper lime.
History
Don and Doris Fisher opened GAP Inc in 1969 with the intent to provide the customer with a wholesome shopping experience. They wanted it to be easy for them to find apparels of different kinds under one roof. So they created the concept with a variety of fits and styles that was designed for different types of people who are likely to visit the store.
The concept caught the imagination of the people and the sales had reached $2 million by 1970 and a new store was opened that year in San Jose, Calif to cater to the growing demand. The advertising campaign debuts of 1974 and the public offering of 1.2 million shares of stock in 1976 on the New York and Pacific Stock Exchange put GAP Inc on the corporate map. In 1977, the Gap foundation was founded with the intention of handling all non profit activities of the company.
1980’s was an decade of growth for the company. Millard Drexler joined the company as its President and COO. The company also acquired the brand Banana Republic. The first GapKids store was opened in San Mateo, Calif in 1986 and a Gap store was opened in London on George Street in 1987 and another in Vancouver, British Columbia in 1989. During that year the annual sales reached $1 billion and Gap Inc was awarded for the “Individuals of Style” advertising campaign.
1990’s saw expansion and diversification. The babyGap line of clothing was introduced in San Francisco, Calif. Gap products were marketed in France under the umbrella of Galeries Lafayette department store in Paris. The Old Navy brand was displayed on the shelves of the new store in Colma, Calif. Millard Dexter became the President and CEO of Gap Inc in 1995. A new 20,000 square foot store in Shibuya Shopping district, Tokyo became the flagship store of the company in 1996. While sales of Old Navy and Banana Republic made sales headlines at $1 billion each, Gap Inc opened its first Online Store at gap.com. A new web presence was also created with the launch of BananaRepublic.com.
The new decade dawned with creation of an online presence Oldnavy.com and the Gap Maternity collection in gap.com. In 2001 Old Navy traveled outside the United States and twelve new stores were opened in Canada. During the early years of this decade Paul Pressler replaced Millard Drexler as President and CEO of Gap Inc. Don Fisher also decided to step down from the post of Chairman of the Board and Bob Fisher took over from his father.
The new guard re-launched all the websites of the company with a view to give their customers a richer and more effective online experience. Their efforts paid off when Gap Inc was also honored with a Web Award by Web Marketing Association.
2005-2006 saw the expansion of business in Japan and the launch of the online only brand Piperlime designed to enhance the shoe shopping experience of the customers. Franchise stores were also launched for the first time in the Middle East and the Southeast Asia during this year.
Guiding Principles
The ‘customer is the king’ to Gap Inc. The 150,000 employees of the organization are enjoined to make a difference in the life of the customer and to make it easy for him to find “a pair of jeans”. The company and its employees must at all times deal with the customer with integrity, respect, open-mindedness and provide the whole business with the required quality and balance. Each employee and associate of the company must honor these values and demonstrate them in their daily dealings with the Government, the public, the shareholder or the customer in a socially responsible manner.
Role in the Industry
Gap.Inc has emerged as a specialty retailer. It has a wide range of products and accessories for men, women, children, babies under the brand names gap, bananaRepublic, OldNavy, Forth & Towne and Piperlime. Gapkids, Babygap and gapbody are products that cater to different segments of customers. A number of factory outlets and franchise outlets help customers access the products of the company with ease. GAP Inc has its headquarters in San Francisco Bay Area and the product design offices are located in New York City, San Francisco and London. Store management units are located around the world to support and manage the 3100 stores located in different parts of the globe.
Revenue
The revenues of the company reached US$15.9 billion during 2006 and earning per share was $ 0.93. The net sales figures for each of its operations were as under: Gap North America: $5.1 billion Banana Republic North America: $2.5 billion Old Navy: $6.8 billion International: $1.5 billion
Gap Inc takes corporate compliance and social responsibility very seriously. The company has laid out a comprehensive corporate compliance program for its employees and ensures that all employees of the organization follow the principles in spirit and letter. The Corporate Compliance program enjoins that all legal responsibilities must be met and all operations must be conducted with integrity, responsibility and honesty. The Code of business conduct that was laid down in 1998 is an undertaking that each employees signs at the time of joining the company. A compulsory training course on the code of Business Conduct ensures that each employee has understood the implications of the code completely before he begins to function within the organization. Periodic reminders are issued to them to keep the principles of the code fresh in mind and to report a suspected violations of it by employees or associates. Copies of the code are available in seven languages and a Corporate Compliance department oversees the implementation of the code. The Gap Foundation supports a number of charitable organizations and is socially active in the areas where it lives and works.
To know more about Gap Inc visit its website GAPInc.com
Languages
English
Address
- 2 Folsom St
- San Francisco CA 94105 US
Contact
- Gap (Apparel) Llc
-
- +1 415 427 5575, Fax: +1 415 427 2166
Additional Information
Related Domains
External Links
- Alexa: Gap.com
