Latest news with #RichardDickson
Yahoo
19 hours ago
- Business
- Yahoo
Athleta's CEO is out and being replaced by a woman with a long track record at Nike
Only six years ago, Gap Inc was telling investors that its Athleta yoga clothing brand was on its way to becoming a $2 billion-a-year brand as it attracted legions of fans drawn to its high quality, hip activewear that was less expensive than that of Lululemon Athletica. But that was two CEOs ago. Gap Inc, which also owns Old Navy and Banana Republic, said on Tuesday that it was replacing Athleta CEO Chris Blakeslee, tapping Maggie Gauger, a 20-year veteran of Nike, to try her hand at re-invigorating a brand that had once been seen as a key motor for Gap Inc's growth despite being smaller than its sister brands. The once high-flying brand has faltered since sales peaked at $1.45 billion four years ago. Last year, the business's sales came in at $1.353 billion, roughly on par with the year before, and then declined sharply in the first quarter of the current fiscal year. Gauger's appointment marks a return to having a woman CEO at the helm of a brand known for its 'Power of She' slogan and being a label for women and girls and empowering them in the world of sports. 'Maggie blends proven business transformation capabilities, deep consumer centricity, product fluency, and a heartfelt commitment to empowering women and girls,' said Gap Inc CEO Richard Dickson, who has been leading a company wide turnaround for two years now, in a statement. When Blakeslee's appointment, made before Dickson became chief executive, was announced exactly two years ago, there was palpable excitement and the perception that landing him was a coup. After all, Blakeslee had come from Athleta rival Alo Yoga and Bella+Canvas, where he had doubled sales to $1 billion in just a few years. What's more, Alo was, and still is, generating a ton of buzz and challenging the supremacy of long time category leaders like Lululemon. But Blakeslee, who had inherited a brand dealing with a spate of product flops and an athleisure-wear trend that was peaking, was unable to generate the same heat at Athleta. (He replaced Mary Beth Laughton, now CEO of REI, in 2023 a few months after she left in the wake of what Gap Inc's former interim CEO Bob Martin called ongoing 'product acceptance challenges.') After stanching the bleeding in 2024, Athleta's declines resumed this year. The 8% drop in comparable sales in the first quarter reported in May at Athleta may well have sealed Blakeslee's fate. 'Work is being done to reset the brand and improve product and marketing which will take time,' Gap Inc said tersely in its earnings report in May. So it will be up to Gauger, whose last job at Nike was leading its North America women's business, to address slow innovation, to renew a focus on the performance aspect of its clothing that had become more focused on chasing fashion trends, alienating long time loyalists in the process, and make clearer to consumers how Athleta is different in a very crowded segment in North American where even Lululemon has seen growth cool. At Nike, Gauger focused on generating growth and customer loyalty for Nike's active and athleisure products. 'I'm energized to bring my experience working at the intersection of sport, style and culture to Athleta, a brand with strong purpose and still so much untapped potential,' said Maggie Gauger. Since Dickson's arrival, Gap's namesake brand and Old Navy have seen their fortunes improve, helped by a quicker cadence of innovation and a bigger effort to connect the brands to the broader culture. So it's not surprising that Dickson would want someone of his choosing to do the same for the Athleta brand. This story was originally featured on
Yahoo
17-07-2025
- Business
- Yahoo
Gap releases curated vintage collection
This story was originally published on Fashion Dive. To receive daily news and insights, subscribe to our free daily Fashion Dive newsletter. Dive Brief: Gap dropped its third GapVintage collection on Tuesday. The capsule, which was compiled by Gap's vintage curator Sean Wotherspoon, features 148 seasonal pieces. It's the largest drop by the vintage curator since his partnership with the company began in 2023. The collection is available exclusively through Gap's e-commerce website, and prices range from $55 to $90, per a company spokesperson. As of press time, a majority of the pieces were sold. Dive Insight: Gap launched the GapVintage project in February, and teased that it would release multiple collections. It released the second collection in April but didn't specify a timeline for upcoming drops. The new capsule includes denim, T-shirts, shirts, pants, skirts and sweatshirts. When GapVintage was announced, Wotherspoon said the vintage and secondhand market continues to resonate with younger generations, and he was excited to see Gap take curated control of its vintage supply. To that end, GapVintage is among the newly announced categories Gap is focusing on as it works to rebuild its image and cultural relevance. Upon his hiring, CEO Richard Dickson was tasked to lead the charge of reinvigorating the company. Under Dickson, Gap has launched GapStudio, an elevated subbrand designed by Zac Posen, who was recently hired as Gap Inc.'s creative director and executive vice president. Collaborations have been another key part of the strategy. This year, Gap brands have collaborated with Malbon Golf, Dôen and Disney. These efforts have contributed to Gap gaining new customers and maintaining long-time fans. 'We are bridging the generation gap,' Dickson said in an earnings call in May. The Gap brand is showing signs of reaching that consumer relevance, he added. Q1 marked the sixth consecutive quarter of positive comps and eighth quarter of market share gains. 'We are building a consistent brand narrative that we are applying with relentless repetition,' Dickson said. Recommended Reading Gap Inc. braces for as much as $300M in tariff-related costs Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time Magazine
26-06-2025
- Business
- Time Magazine
TIME100 Most Influential Companies 2025: Gap
Gap has provided a valuable lesson in making old (ish) brands vibrant again under CEO Richard Dickson, who joined in 2023 from Mattel (where he helped revive Barbie) and creative director Zac Posen, who arrived in 2024. The company's brands—including Gap, Banana Republic and Old Navy—were flagging for years but have regained buzz and market share, and in March, it reported 2024 operating profits of $1.1 billion, nearly double the previous year. (Though Trump's tariffs may mean trouble ahead, with volatility and significant impact on retailers and global supply chains.) The secret? Named in 1969 to reference the "generation gap," it's now a bridge to multiple generations of consumers, even in the same store, aided by successful influencer collaborations that connect to younger shoppers. "With precision marketing, we can target our Gen Z, Baby Boomers, Gen X and millennials with creativity and assets that appeal to those different generations with the same product, expressed differently," Dickson says. "Our clothes are designed so that you express your own individuality. Khakis are khakis, right? But how you wear the khaki is your individual style."
Bloomberg
26-06-2025
- Business
- Bloomberg
Big Take: How Tariffs Threaten Gap's Turnaround
At the start of 2025, Gap was cool again. The legacy American brand had started to turn around sales and rebuild its image. It was in the middle of a splashy ad campaign with the actress Parker Posey. Influencers were posting its clothes online. But then President Trump announced his 'Liberation Day' tariffs. On today's Big Take podcast, Bloomberg reporters Amanda Mull and Lily Meier walk host Sarah Holder through Gap's history, its recent re-invention and the challenges it faces now. Plus, we hear from Richard Dickson himself.
Bloomberg
24-06-2025
- Business
- Bloomberg
ICYMI: Inside Gap's Last-Ditch, Tariff-Addled Turnaround Push
Bloomberg Businessweek Senior Reporter Amanda Mull break down how Gap, the iconic '90s retailer, was on the precipice of death for years. Then CEO Richard Dickson finally had momentum for a comeback— and then came Trump.
