Gap, Inc.
Company History
Gap History: Founding, Growth & Key Milestones
Founded 1969 in San Francisco, United States
When was Gap founded?
Gap was founded in 1969 in San Francisco, United States by Donald Fisher and Doris F. Fisher, making it 57 years old.
- Founded
- 1969
- Founding place
- San Francisco, United States
- Founders
- Donald Fisher and Doris F. Fisher
- Headquarters today
- San Francisco, California
- Milestones documented
- 12 (1969–2024)
- Current CEO
- Richard Dickson
- Acquisitions
- 3
| Year | Event |
|---|---|
| 1969 | First Gap Store Opens |
| 1976 | Initial Public Offering |
| 1976 | Gap IPO |
| 1983 | Acquisition of Banana Republic |
| 1990 | Launch of GapKids |
| 1994 | Old Navy Launched |
| 1998 | Launch of babyGap |
| 2008 | Acquisition of Athleta |
| 2012 | Acquisition of Intermix |
| 2020 | Cancellation of Old Navy Spin-Off |
| 2023 | Appointment of Richard Dickson as CEO |
| 2024 | FY2024 Revenue Reaches $15.88 Billion |
- Where was Gap founded?
- Gap was founded in San Francisco, United States in 1969. wikidata.org
- Who founded Gap?
- Gap was founded by Donald Fisher and Doris F. Fisher.
- When did Gap start?
- Gap was founded in 1969.
- How old is Gap?
- Gap is 57 years old as of 2026.
Founding Story
Donald and Doris Fisher opened the first Gap store on Ocean Avenue in San Francisco in 1969 after Donald struggled to find Levi's jeans in his size at a department store. The store sold Levi's and records, and the name came from the 'generation gap'. Gap later moved to private-label clothing, went public in 1976, bought Banana Republic in 1983, and launched Old Navy in 1994.
Founders
Donald Fisher
Donald Fisher co-founded Gap with his wife Doris in 1969, opening a store on Ocean Avenue in San Francisco that sold Levi's jeans and records. The name referred to the 'generation gap'. Fisher led the company through its 1976 IPO and its growth into a national chain, recruited Mickey Drexler in the 1980s, and remained involved as chairman for decades. He died in 2009. Donald Fisher was born in 1928. Education: University of California, Berkeley; Haas School of Business.
Doris F. Fisher
Doris F. Fisher co-founded Gap with Donald Fisher in 1969 and is credited with naming the company after the 'generation gap'. She worked in merchandising in the early years and later served on Gap's board. The Fisher family has remained a significant shareholder group. Doris F. Fisher was born in 1931 in San Francisco. Doris Lee Feigenbaum Fisher was born on August 23, 1931 and died on May 2, 2026. Donald Fisher, her co-founder, was her husband.
Key Milestones
First Gap Store Opens
Donald and Doris Fisher open the first Gap store on Ocean Avenue in San Francisco, California, focusing exclusively on Levi's jeans and records, generating $2 million in sales in its first year.
Source: en.wikipedia.orgInitial Public Offering
Gap Stores goes public on the New York Stock Exchange, raising $12 million in an IPO that values the company at $50 million, providing capital to accelerate national expansion.
Source: en.wikipedia.orgAcquisition of Banana Republic
Gap Inc acquires Banana Republic, a safari-themed premium apparel catalog company, for an estimated $1.5 million, marking its first major step into the premium retail segment.
Source: en.wikipedia.orgLaunch of GapKids
Gap Inc launches the GapKids brand, expanding its product assortment to include children's apparel and capturing a new demographic of family shoppers, which now contributes significantly to total revenue.
Source: en.wikipedia.orgLaunch of babyGap
The company introduces babyGap, targeting the infant and toddler market, further solidifying its position as a comprehensive family apparel retailer and driving incremental store traffic.
Source: en.wikipedia.orgAcquisition of Athleta
Gap Inc acquires women's activewear brand Athleta for $150 million, a strategic move to enter the rapidly growing performance apparel market that would eventually become a $1.7 billion brand.
Source: en.wikipedia.orgAcquisition of Intermix
The company purchases multi-brand luxury retailer Intermix for $130 million, creating a high-end experimental laboratory for trend-spotting and premium fashion curation.
Source: en.wikipedia.orgCancellation of Old Navy Spin-Off
Gap Inc officially cancels its planned spin-off of Old Navy, a move announced in 2019, citing the economic uncertainty of the pandemic and paying $10 million in advisory breakup fees.
Source: en.wikipedia.orgAppointment of Richard Dickson as CEO
The board appoints Richard Dickson, former president of Walmart's global advertising business, as CEO, tasking him with revitalizing the legacy Gap brand and reducing promotional dependency.
Source: en.wikipedia.orgFY2024 Revenue Reaches $15.88 Billion
Gap Inc reports $15.88 billion in net sales for fiscal 2024, achieving a 7.0% operating margin and generating $1.2 billion in free cash flow, signaling a return to financial stability.
Source: en.wikipedia.orgMajor Acquisitions
Banana Republic
1983Gap bought Banana Republic, then a small safari- and travel-themed retailer, to add a higher-priced brand.
Athleta
2008Gap bought Athleta for about $150 million to enter women's activewear.
Intermix
2012Gap bought multi-brand boutique chain Intermix for about $130 million to add a luxury, curated retail concept.
Keep researching Gap
Gap Company History FAQ
When was The Gap founded and where was its first store established?
The Gap was founded on August 21, 1969, by Donald and Doris Fisher on Ocean Avenue in San Francisco, California, selling Levi's jeans and vinyl records to local youth.
When did Gap launch its private-label clothing and go public on the stock exchange?
Gap introduced its first private-label clothing line in 1974 and completed its initial public offering on the New York Stock Exchange in 1976 under the ticker symbol 'GPS'.
When was the Old Navy brand created and launched by Gap Inc.?
Old Navy was officially launched in March 1994, named after a famous bar in Paris. It transformed affordable family shopping with warehouse-style fixtures and reached $1 billion in annual sales in just four years.
What was the cultural impact of Gap's well-known 1990s television advertising campaigns?
In the late 1990s, Gap launched well-known, award-winning television commercials, such as 'Khaki Swing', 'Khaki Soul', and 'Mellow Yellow', set to infectious music, defining 1990s pop-culture casual fashion.
When did Gap Inc. acquire women's activewear brand Athleta?
In September 2008, Gap Inc. acquired Athleta for $150 million, expanding from catalog sales into a national network of hundreds of physical retail stores and becoming a certified B Corp in 2018.
When did Gap Inc. transition its international operations to franchise partners?
Between 2021 and 2023, Gap Inc. transitioned company-operated retail stores in the UK, Europe, China, and India to established regional franchise partners (such as Next plc in the UK, Baozun in China, and Reliance in India).
When did Richard Dickson become CEO of The Gap, Inc.?
In August 2023, Richard Dickson officially took office as President and CEO, initiating a comprehensive brand reinvigoration, appointing Zac Posen as Creative Director, and restoring consistent financial profitability.
How has The Gap, Inc. shaped American fashion history over more than 55 years?
Over more than five decades, The Gap, Inc. evolved from a single San Francisco denim shop into a well-known $15 billion American fashion empire whose four leading brands defined casual style, modern denim, family value, and active living worldwide.
How did Gap start?
The Gap was founded in 1969 by Doris and Don Fisher in San Francisco. The legendary origin story is that Don was deeply frustrated because he couldn't find a pair of Levi's jeans that actually fit him in local department stores. He opened a massive store that sold absolutely nothing but Levi's jeans and LP records to attract teenagers.
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