Gap Inc.
Essay title: Gap Inc.
It was the summer of 1969 when Doris and Don Fisher opened the first Gap store in Ocean Ave. San Francisco, Calif. Since then, now Gap Inc. operates more than 3,100 stores worldwide and employs over 150,000 people worldwide. They have stores throughout the United States, as well as in Canada, the United Kingdom, France, Ireland, and Japan. The headquarter offices are based in the San Francisco Bay Area and their product design offices are located primarily in NYC, San Francisco and London. They also have offices around the globe to support their store management, distribution and product manufacturing operations.
Paul Pressler is president and CEO of Gap Inc., and Don Fisher is Chairman of the board. Don Fisher said,” I created Gap with a simple idea: to make it easier to find a pair of jeans, we remain committed to that basic principle”. Paul Pressler said,” everyday we look for new ways to connect with customers around the world, provide value to our shareholders and make a positive contribution in the communities where we do business”.
Today, Gap Inc. is one of the worlds largest specialty retailers, with more than 3,100 stores and fiscal 2005 revenues of $16 billion dollars. They operate 5 of the most recognized apparel brands in the world. Gap, Banana Republic, Old Navy, Forth & Towne and Piperlime.
In 1970 Gaps second store opens in San Jose, Calif. And sales reach $2 million. In 1977 the Gap Foundation is founded and launched. Gap Foundation is the charitable arm of Gap Inc. and supports community organizations where we live and do business around the world. The Foundation was initially established as an outgrowth of the philanthropic work of the Fisher family, and over the past twenty – seven years has evolved through a number of focus areas such as AIDS, youth entrepreneurship, environment, and the arts. Since 2001 the Foundation has focused its funding on education and youth development in underserved communities. In 2003, more than $12 million dollars in product donations were made to non – profit organizations to help people in need. Product donations are not limited to clothing, and include computers, office equipment, fabric, and store fixtures.
In 1986 the first Gap Kids store opens in San Mateo, Calif. Then in 1987 the first Gap store outside the United States opens in London, England, on George Street. In 1989 the first Gap store in Canada opens in Vancouver, British Columbia. In 1994 Old Navy opens its first store in Colma, Calif. And Gap Outlet stores open their doors as part of the new Gap Factory Outlet Division. In 1995 the first Banana Republic store outside the U.S. opens in Canada. In 1997