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.
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 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.
In 1999 BananaRepublic.com launches.
In 2000 Oldnavy.com launches. In april GAP divisions had 3145 stores and company accounted for approximately 5% of all apparel dollars spent in US.
In 2002 Paul Pressler is named GAP Inc. President and CEO. Millard Drexler retires after 19 years of service.
In 2003 GAP Inc. Founder Don Fisher announces decision to step down as Chairman of the Board.
In 2006 GAP Inc. launches its first online-only brand, Piperlime, offering a fresh shoe shopping experience.
Thirty years after entering the retailing industry, GAP had an established, prominent positionin the specialized retail apparel industry and consistently achieved among the highest margins in the industry.
Millard “Mickey” Drexler – joined the company as president of GAP stores in 1983. He came from Ann Taylor, an upscale women’s mass retailer, where he had built a reputation for establishing large consumer brands. Drexler improved GAP’s margins, promoted growth, and redefined its image.
Among Drexler’s early initiatives was consolidating the multiple private-label lines into a GAP brand.
He also extended GAP’s reach by acquiring Banana Republic in 1983 and opening the first GapKids store in 1986.
Drexler sought to reposition GAP as a global brand, rather than just a retailer.
Creating value: economics of internet based commerce.
Gap was concentrating on satisfying the customers and creating more values for them.
“ Every day, we honor these values (integrity, respect, open-mindedness, quality and balance ) and exemplify our belief in doing business in a socially responsible way.
Gap created emotional connections between customers through inspiring product design.
Incentives, great return policy, alterations and in-store promotions made customers more satisfied with the brand and created more value for them.
Web sites integrated technology to enhance customer experience – customers could easily compare sizes for different cuts and styles, there were multiple navigation schemes, and wish lists and other tools to record their preferences and better understand what customers want.