Gap has hired Goldman Sach’s to explore strategic alternatives, or in Wall Street-speak, they are looking for a buyout. At first I was really surprised to hear about this, but thinking more about it has lead me to see that Gap did at one time shine and that star has slowly faded.
Back when I was in high school if you wore anything Gap, you were considered “in” and certainly from a family that had some money to burn on clothing. Gap is not necessarily high end, but they were pricier than a good amount of other clothing stores that were popular in the 80’s and early 90’s. They relaunched themselves into the spotlight when they had some really great commercials such as their Jump and Jive Khaki ad. That ad made me want to go straight to Gap and buy some khaki’s then enroll myself into a swing dance class.
I noticed that once the great commercials stopped coming along that it allowed for other retail clothing stores to emerge in popularity. When I really noticed it most, was when Sarah Jessica Parker did the “Pretty Khaki” ad campaign. Did I really believe she was strutting around in real life wearing khaki pants, nope, and that soon made me not feel the same excitement about Gap as I had previously.
While there are also management changes going on at Old Navy, also owned by Gap, I can’t say my sentiment holds true for them. Yes, they too had some really “colorful” ad campaigns for a while there and then went quiet for a bit, but I love their whole “Get your Fash On” ad campaign that has been out for a few months, and honestly I love the song for the commercials. No matter that sales are lacking and they reportedly can’t keep their focus (are they teen trendy or family friendly), Old Navy still remains to be one of my favorite clothing stores.
I can’t imagine a world without Gap, or even another chain buying it out and changing the way we know Gap. I certainly hope that new management and better marketing strategies puts the brand back on top and saves them from fashion death.