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Gap, Inc. :
Gap, Inc. (NYSE: GPS) is an American clothing and accessories retailer based in San Francisco, California, and founded in 1969 by Donald G. Fisher and Doris F. Fisher. The company has five primary brands: the
namesake Gap banner, Banana
Navy, Piperlime and Athleta. As of September 2008, Gap, Inc. has approximately
135,000 employees and operates 3,076 stores worldwide, of which 2,551 are in the United
States. Gap, Inc. remains the largest specialty apparel retailer in the U.S., though it has
recently been surpassed by the Spanish-based Inditex Group as the world's largest apparel
Despite the company's publicly
traded status, the Fisher family remains deeply involved in Gap, Inc.'s business and collectively owns a
significant quantity of the company's stock.
Donald Fisher served
as Chairman of the Board until 2004 and remained on the board
until his death on September 27, 2009. His wife and their son, Robert J. Fisher, also serve on Gap's board of directors. Robert Fisher succeeded his
father as chair in 2004 and also became president and CEO on an interim basis following the resignation
Pressler in 2007.
Glenn K. Murphy is the
current CEO of the company. Previous Gap, Inc. CEOs
Drexler and Paul Pressler.
On August 21, 1969, Donald
and Doris Fisher opened the first Gap store on Ocean Avenue in San Francisco. The store's merchandise consisted
of Levi's and LPs. The Fishers had raised $63,000 to open the store, and in one year, Gap's sales had reached $2 million. In 1970, Gap opened its second
store, in San Jose,
California, and established its first corporate headquarters in Burlingame, California with just four employees. Gap grew
rapidly. By 1973, it had more than 25 stores, including areas outside California—entering the East Coast market
with a store in Voorhees, New Jersey. In 1974, Gap began to sell private-label
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