GAP Case Study

GAP Case Study - GAP.COM By Gediminas Sumyla Mission and...

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GAP.COM By Gediminas Sumyla
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Mission and vision Mission : GAP is a brand-builder. “We create emotional connections with customers around the world through inspiring product design, unique store experiences and compelling marketing.” It’s goal is to simply make it easy for customers to express their personal style throughout their life. Vision : GAP hoped that effective Web initiative could let company to solidify its brand, improve customer relationships, serve markets that could not support a store and cut costs. Company also believed that going online would attract new customers and steal market share from competitors.
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History In 1969, Don Fisher and his wife Doris opened the first GAP store in San Francisco. The company took name from “generation gap” and targeted the late-teen customers. By the end of 1970, there were six GAP stores already. Sales reach $2 million. In 1974 GAP introduced private label lines to pull it out of price-based competition with larger retailers. Private- label clothing lines gave GAP control over the entire supply chain. In 1976 GAP went public offering 1.2 million shares of stock on the New York and Pacific Stock Exchanges.
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History (cont’d) In 1983 there were 566 GAP stores and Millard ("Mickey") Drexler joined the company as President and COO of the Gap division. Drexler improved company’s margins, promoted growth and redefined its image. In 1983 GAP acquired Banana Republic. In 1986 first GAP’s GapKids launched. In 1987 company reached $1 billion in sales. In 1987 GAP opened a new store outside US in London, and in 1989 in Vancouver, Canada. In 1992 GAP becomes the second largest selling apparel brand in the world. In 1994 GAP introduced Old Navy brand.
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History (cont’d) In 1995 Millard Drexler is named President and CEO of Gap Inc., succeeding founder and Chairman Donald Fisher. In 1997 Old Navy sets a retail record, reaching $1 billion in annual sales in less than four years of operation. GAP opens its Online Store at GAP.COM. In 1998 Banana Republic surpasses the $1 billion mark in annual sales.
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This note was uploaded on 03/20/2012 for the course BUS LAW 320 taught by Professor Soos during the Spring '10 term at Rutgers.

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GAP Case Study - GAP.COM By Gediminas Sumyla Mission and...

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