Once a $43 billion giant opening two stores a day, Gap stagnated for two decades, losing its cultural grip while its market value plunged roughly 90%. In 2023, the company tapped former Mattel executive Richard Dickson, architect of Barbie’s revival, to turn the brand around. Early bets paid off: a viral campaign featuring pop group Katseye dominated TikTok, helping spark one of Gap’s strongest quarters in 20 years. Now, the retailer faces a tougher test: converting fleeting cultural momentum into durable growth while lifting a four-brand portfolio.
00:00 Gap’s Rise and Dramatic Decline
01:17 The Turnaround: Richard Dickson’s Product-and-Story Reset
02:24 Fashiontainment and the Return of Cultural Relevance
04:16 From Viral Buzz to Store Traffic and Full-Price Sales
05:47 Can “Cool” Deliver Sustained Financial Growth?
06:24 Old Navy Is the Critical Test for Gap Inc.
Subscribe to Fortune’s YouTube:
Subscribe to Fortune:
Fortune Magazine is a global leader in business journalism with 55 million monthly page views and a readership of nearly 32 million, with major franchises including the Fortune 500 and the Fortune 100 Best Companies to Work For. The new Fortune video channel dives into personal stories from business owners and entrepreneurs becoming successful in business and sharing their tips to help you reach your goals.
Website:
Facebook:
Twitter:
TikTok:
source
All I can say is it worked for me. I was never a Gap shopper but after the Katseye ad i decided to give it a try again and although they still focus on a lot of over priced basics, they have some cute things as well (more for women than men) and the quality is there. But they’re not going to keep Gen Z just based on that.
I think Gap still has a long way to go to win customers back. The reason why Gap is still in the dumpster is because it’s competing with Uniqlo who are so culturally relevant and create looks that transcend multiple cultures whilst Gap is stuck in that dated 90s Americana look it just can’t crawl out from. Gap stores are still dull, lacking in excitement and quite depressing.
Why does it feel like this video was produced for investors?
Read the World Room – who can afford ANYTHING AT FULL PRICE ANYMORE? I can’t afford Old Navy even on Sale! I thrift shop my clothing now and if you have some time – you can still find some clothing treasures. I purchased a pair of Levi’s for $10. And some of those greedy thrift shops were trying to sell used Old Navy jeans for $15.99! Get Outta Here!!! GAP have not worn or purchased anything from them since 2005. And Banana Republic would do better if they Actually sold Real Bananas. 🍌 🎉
"Trying to reach gen z" is basically borrowing from an era they never knew. Its basically recycling millennial childhood and teenage years.
Gap is too expensive for uts lowered quality and lackluster style range.
How to produce overconsumption and future landfill. Hate this cultural releavance babble – it's jeans and t-shirts, for f*cks sake.
What im bout to say is a sin but…remix the logo…its no point buying new gap clothes when I can get on depop and get a used hoodie for 5 bucks…literally nothing separates this season from last season at all..jeans aint gonna save it…remix the logo…do collections with artists..
Sorry, I was just in your Roseville Ca store a week ago. it looked dull and dismal. No dance video can save you if you don't have compelling merch; and this is back to school season for crying out loud.
Ye couldn't save it