Gap Inc is one of the grated family businesses or businesses that started as the family business then spread countrywide and later worldwide to become a multinational enterprise. Currently, the corporation has numerous outlets worldwide a move that increased its ability to reach a large number of people. The success enjoyed by the by the corporation has also been managed by various people.
The company was founded by Donald G. Fisher in conjunction with his wife. He found the business as a single store in 1969. The company gradually grew to become a reputable retail company with reputable brands like Old Navy, namesake and banana republic (Gap Inc, 2007). Currently, the company sells deferent urbane chick and casual clothing to children, men and women through its outlet estimated to be 4,250 stores in US, Japan, Canada Germany, France and the United Kingdom. The company did flourish during the 80s through the 90s while under the leadership of Millard Drexler who was also popularly known as “Mickey.” However, the company has, in the recent years, battled through very difficult times, especially at the start of the current century. In 2002 Drexler retired and was succeeded by Paul Pressler as the new CEO. Fisher, on the other hand, was maintained as the chairman (Gap Inc, 2009).
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The company has however managed to almost regain its foot since the departure of Drexler and the employment of Pressler as the new CEO of the organization. The company currently is listed on the New York stock exchange. The public thus owns a percentage of the business while the Fisher family controls the remaining part of part of the business. The family controls over a half of the business
The company is certainly a legend in the textile industry. Having a large range of outlets has ensured that the firm can reach as many customers as possible. The company’s presence in the textile market is evident. The success is also un-measurable.