The Gap Stock

The Gap, Inc. operates as an apparel retail company worldwide.

The company is a collection of purpose-led, lifestyle brands offering apparel, accessories, and personal care products for women, men, and children under the Old Navy, Gap, Banana Republic, and Athleta brands.

The company is an omni-channel retailer, with sales to customers both in stores and online, through company-operated and franchise stores, company-owned websites, and third-party arrangements. The company signed agreements with a third party, Baozun Inc. (Baozun), to operate Gap China and Gap Taiwan (Gap Greater China) stores and the in-market website as a franchise partner. On January 31, 2023, the Gap China transaction closed with Baozun.

The company has franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under its brand names.

In addition to operating in the specialty, outlet, online, and franchise channels, the company uses its omni-channel capabilities to bridge the digital world and physical stores to further enhance the shopping experience for its customers. The company’s omni-channel services, including curbside pick-up, buy online pick-up in store, order-in-store, find-in-store, and ship-from-store, as well as enhanced mobile-enabled experiences, are tailored uniquely across its collection of brands.

Old Navy: Old Navy is an American value apparel brand that makes current essentials accessible to everyone. The brand celebrates the democracy of style through on-trend, playfully optimistic, affordable, high-quality product, and inclusive size ranges. Old Navy is committed to creating incredible shopping experiences regardless of where, when, and how customers choose to shop, including a fun store experience, a dynamic online channel, and convenient omni-channel capabilities.

Gap: Gap is an authority on modern American style. Gap continues to build on its heritage grounded in denim and khakis. Gap is a lifestyle brand that includes adult apparel and accessories, Gap Teen, Gap Kids, babyGap, Gap Maternity, Gap Body, GapFit, and Gap Home collections. In 2022, Gap Home, the company’s licensing partnership with Walmart, continued to scale and offer new categories in the home space, including launching a collection for kids. Gap connects with customers online, in Company-operated and franchise retail locations globally, and through licensing partnerships. Gap also serves value-conscious customers with exclusively designed collections for Gap Outlet and Gap Factory Stores.

Banana Republic: Banana Republic is a global apparel and accessories brand committed to work for a better republic. Designed for people with purpose who share a passion for life, Banana Republic is redefining luxury by using the finest materials with the latest fabric innovations to create timeless, modern, and versatile clothing, eyewear, jewelry, shoes, handbags, and fragrances. Customers can purchase Banana Republic products globally in the brand's specialty stores, factory stores, online, and franchise stores.

Athleta: Athleta is a premium fitness and lifestyle brand creating beautiful, technical, sustainable apparel to inspire a community of active, confident women and girls. Athleta integrates technical features and innovative design across its women's collection to carry her through a life in motion, from yoga, training and sports, to everyday activities and travel. In 2022, Athleta unveiled new product collaborations with athletes and celebrities. Additionally, Athleta continued to open new stores in both the U.S. and Canadian markets.

Old Navy, Gap, Banana Republic, and Athleta each have a private label credit card program and a co-branded credit card program through which customers receive benefits. Private label and co-branded credit cards are provided by a third-party financing company, with associated revenue sharing arrangements reflected in Gap Inc. operations. During fiscal 2022, the company launched a new long-term credit card program with Barclays that replaced its prior credit card program with Synchrony Financial. The company also has an integrated loyalty program across the U.S. and Puerto Rico that aims to attract new customers and create enduring relationships by turning customers into lifelong loyalists. The company focuses on increasing the lifetime value of its loyalty members through greater personalization, including by leveraging first party data and increasing promotions with targeted content, offers, and experiences.

Product Development

The company designs, develops, markets, and sells a wide range of apparel, footwear and accessories products reflecting a mix of basics and fashion items based on widely accepted fashion trends, striving to bring product to market quickly and provide unrivaled value to customers. The company is committed to pursuing technology and product innovation that supports its sustainability efforts while also delivering great quality products to its customers. The company’s product teams research, test, and iterate each season to deliver the latest styles in fabrics and silhouettes that are made to last while remaining conscious of the types of materials being sourced and the suppliers they work with. The company leverages feedback and purchasing data from its customer database, along with market trend insights, to guide its product and merchandising decision-making.

Marketing and Advertising

The company uses a variety of marketing and advertising mediums to drive brand health, customer acquisition, and engagement.

Merchandise Vendors

The company purchases private label and non-private label merchandise from over 250 vendors. The company’s vendors have factories in about 25 countries.

Seasonal Business

The company’s business typically follows a seasonal pattern, with sales peaking during the end-of-year (year ended January 28, 2023) holiday period.

Trademarks and Service Marks

The company owns the material trademarks used in connection with the marketing, distribution and sale of its products, domestically and internationally, where its products are sold or manufactured. The company’s major trademarks include the Old Navy, Gap, Gap Kids, babyGap, Gap Body, GapFit, Gap Teen, Banana Republic, and Athleta trademarks and service marks, and certain other trademarks and service marks. The company has obtained and continue to maintain registrations for the aforementioned marks in the United States, Canada, Mexico, the United Kingdom, the European Union, Japan, China and numerous other countries throughout the world. In addition, the company owns domain names for its primary trademarks and hold several copyright registrations.

Franchising

The company has franchise agreements to operate Old Navy, Gap, Banana Republic, and Athleta in a number of countries throughout Asia, Europe, Latin America, the Middle East, and Africa. Under these agreements, third parties operate, or will operate, stores and websites that sell apparel and related products under the company’s brand names.

Research and Development

The company’s research and development expenses included $46 million in 2022.

History

The Gap, Inc. was founded in 1969. The company was incorporated in the state of California in 1969 and was reincorporated under the laws of the state of Delaware in 1988.