Answer the following questions about the GAP corporation Company background & hi
ID: 412725 • Letter: A
Question
Answer the following questions about the GAP corporation
Company background & history (from beginning to currently)
Industry description and outlook for next 10 years
Company current vision, mission, and objectives
Company leadership and leadership style (ie. CEO or President)
Company products and/or services
Company target market
Company location(s): national and/or international
Answer the following questions about the GAP corporation . Company background & history (from beginning to currently) . Industry description and outlook for next 10 years . Company current vision, mission, and objectives . Company leadership and leadership style (ie. CEO or President) Company products and/or services . Company target market . Company location(s): national and/or internationalExplanation / Answer
GAP Background and History:
GAP is commonly known as Gap Inc. It is an American worldwide retailer that offers clothing and accessories to its customers. Its origin is noted in the year 1969 in the month of August by Donald Fisher and Doris F. Fisher. Initially the amount raised by Donald and Doris to start up the company was US$63,000. The second store of GAP was opened up in San Jose, California. In the year 1971, its headquarters was established in Burlingame, California. At that time there were only four employees working with GAP. It added up to its locations to 25 in the year 1973 whereas in the year 1974 GAP began selling private label merchandise. It was started as a family business and the Fisher family remains deeply connected with the business over number of years adding up to the grace, profits of the company. Donald Fisher acted as the Chairman of the Board till the year 2004. At that time Fisher's wife and their son, Robert J. Fisher, also served on Gap's board of directors. After Donald in 2004 Robert was the next chairman and also served as the CEO for couple of years. In the year 2007, GAP made an announcement that now while recruiting the CEO it will be kept in mind that the person so employed would have a deep knowledge and experience about retailing and merchandising. He should understand the level of creativity required to help the company grow. This was then followed by Glenn K. Murphy and then Art Peck took over as the CEO of GAP as on February 1, 2015 and is currently serving as the CEO.
GAP was achieving success step by step and due to its number of efforts in the year 2007 GAP was evaluated as one of the 100 world’s most ethical companies by Ethisphere magazine. Further efforts were put by all the members to make it a famous brand. As estimated on September 2008, Gap had 135,000 employees working with it and it was operating around 3,727 stores worldwide, out of which 2,406 stores were located in the U.S. Moreover on October 2011 plans were made to expand and to open up stores in China as well and by 2013 planned to open up its first store in Brazil.
Now its headquarters is in San Francisco, California. Art Peck is the current CEO of GAP, appointed as on February 1, 2015. GAP is putting in efforts by adding up number of skilful employees, adding up to its products, opening up new stores in different locations and expanding its business. It offers multiple products such as accessories, apparels, products for men, women, kids under five main brands namely Gap (the namesake banner), Banana Republic, Old Navy, Athleta and Intermix.
Company current vision, mission, and objectives
GAP Vision:
The current Vision of GAP is to become experienced and more innovative in providing hire solutions. It wants to lead and not follow others. IT states that GAP wants to stand in the forefront of the Industry and become so strong so that it leaves a real impact on the key decisions influencing the hire sector.
GAP has number of mission statements such as:
The main objectives of Gap are as under:
Company Leadership & Leadership Styles:
Over the number of years there have been number of directors, CEO’s, Board of Directors who have been working for GAP and putting in their efforts, applying their knowledge to help the company grow.
The present CEO of GAP Inc. is Mr, Arthur Peck. He was appointed as the CEO on February, 2015. He joined GAP in the year 2005 after former CEO Paul Pressler. He also helped the company to launch its Product Red campaign in the year 2006. This campaign added up number of retailers along with it such as Apple, Converse and Nike. Due to his number of efforts he was selected to be the next CEO of the company.
The main leadership styles followed by the company can be listed down in points:
Company Products and Services:
GAP is a retail company serving its customers since 1988. It offers apparels, accessories, personal care products for men, women and children. It works under different brands such as Gap (the namesake banner), Banana Republic, Old Navy, Athleta and Intermix.
GAP
GAP is an apparel brand operating in American style, casual style. Its collection involves denims, tees, button downs etc. It presents number of products under different names such as Gap name, in addition to GapKids, babyGap, GapMaternity, GapBody and GapFit. . It also brings the brand to customers, with designer collections for Gap Outlet and Gap Factory stores and Websites.
Banana Republic
It focuses on delivering versatile contemporary classics to its customers in different outlets.
Old Navy
Old Navy is an apparel and accessories brand. Old Navy products are available in Company-operated and franchise stores and online.
Athleta
It is a fitness and lifestyle brand only for girls and women. It provides apparels for yoga, training, sports, everyday activities and travel.
Intermix
It includes designs for designers and are far way expensive. It delivers the must haves for the designers.
Company Target Market:
GAP used to target the younger generation when it started working under the name of Generation Gap. It sold everything which in terms of denims, tees, shirts available in different sizes and colours.
GAP currently focuses on serving all the demographic of customers. It offers products for different generations, different fashions, in different sizes, for men women and even kids, for families, for young customers, for old aged people. It offers products in multiple formats and designs, in different shapes, in different colours. Its main aim is to serve all types of customers with wide variety of products and make them feel satisfied.
Company Location(s):
GAP has extended its operations in different locations worldwide. In 2008 it had opened up stores in Greece, Romania, Bulgaria, Cyprus, and Croatia. It has number of stores opened up in France, Italy, Indonesia, Japan, China, Hong Kong, Taiwan, and Mexico as of May 2016 and it operates in 43 countries nationwide. IN May 2015 it has opeend up store in Delhi as well and in 2016 in Mumbai. The efforts of the company are endless and it is achieving success very quickly and will succeed in future as well.