GAP

   Founded in 1969 by real estate entrepreneur Donald Fisher, the Gap created a brand identity with their merchandising formula— basic sportswear items and accessories, all displayed in an uncluttered, color-coordinated atmosphere. By the mid-1990s, other retailers had copied the Gap and president and CEO Millard Drexler integrated a strong marketing plan to enhance the Gap brand. In 1997, after a decade-long hiatus, Gap returned to TV advertising. Its campaign, Fall into the Gap, set the stage for revitalization of the brand. Drexler ran Gap from 1998 to 2002 and increased annual sales from $4.4 billion to $13.8 billion annually. Located in San Francisco, California, Gap is the largest specialty retailer in the United States; as of 2005, Gap employed 150,000 people and had 3,005 retail establishments worldwide. In 2004, it sold its German operation to its local competitor, H&M. The Gap empire has a value retail chain, Old Navy, and an upscale brand—Banana Republic. In 2005, it launched Forth & Towne, a retailer geared to women in their forties and fifties not comfortable with the merchandise of the youth-oriented stores. By 2007, however, all 19 stores were closed.

   See also Retailer; Specialty store.