Don Fisher, Co-Founder Of Gap, Dies at 81
Donald Fisher, who set out to create a new kind of clothing store to fill "The Gap" he saw in retailing, died of cancer Sunday at age 81.
Mr. Fisher wasn't known as a merchant or fashion designer. Rather, he propelled his business with an intense competitive drive and a passion for real estate. Under his leadership, the San Francisco-based retailer quickly spread to malls and urban centers across the U.S. He recruited talent to make up for his lack of apparel knowledge.
Gap became known as an iconic brand that made it the most profitable clothier in the U.S. during the 1990s. The company expanded both upmarket and down by acquiring Banana Republic in 1983 and launching Old Navy a decade later.
Today, Gap Inc. is one of the largest apparel retailers in the world, with 3,145 stores and $14.5 billion in sales last year.
Mr. Fisher was deeply involved in his company's business for 40 years, serving as chief executive from 1969 to 1995. He remained chairman until 2004.
At board meetings in the past year, Mr. Fisher was always the most attentive, said Gap Chief Executive Glenn Murphy. "More than anybody he was listening, writing stuff down, taking it all in," Mr. Murphy said.
The original Gap sold records along with every size and cut of Levis. Later, the chain would rise on the back of a charismatic outsider, Mickey Drexler, whom Mr. Fisher recruited from Ann Taylor in 1983.
Read entire article at The Wall Street Journal
Mr. Fisher wasn't known as a merchant or fashion designer. Rather, he propelled his business with an intense competitive drive and a passion for real estate. Under his leadership, the San Francisco-based retailer quickly spread to malls and urban centers across the U.S. He recruited talent to make up for his lack of apparel knowledge.
Gap became known as an iconic brand that made it the most profitable clothier in the U.S. during the 1990s. The company expanded both upmarket and down by acquiring Banana Republic in 1983 and launching Old Navy a decade later.
Today, Gap Inc. is one of the largest apparel retailers in the world, with 3,145 stores and $14.5 billion in sales last year.
Mr. Fisher was deeply involved in his company's business for 40 years, serving as chief executive from 1969 to 1995. He remained chairman until 2004.
At board meetings in the past year, Mr. Fisher was always the most attentive, said Gap Chief Executive Glenn Murphy. "More than anybody he was listening, writing stuff down, taking it all in," Mr. Murphy said.
The original Gap sold records along with every size and cut of Levis. Later, the chain would rise on the back of a charismatic outsider, Mickey Drexler, whom Mr. Fisher recruited from Ann Taylor in 1983.