The Gap Set To Close?

By Salma Moustafa

The Gap is set to close 200 of its 900 stores worldwide by 2013 according to chairman and CEO Glenn Murphy of The Gap.Known for its relaxed and preppy look which mainly consists of chinos, jeans, and white shirts, The Gap has been targeting yummy mummies and yuppies and catering to fashion-conscious consumers' since it first opened in 1969.

However, with the constant increasing changes to the fashion industry and the embracing of social media platforms by fashion retailers, The Gap realizes its needs to keep up with these trends and shift its focus to one that modernizes its signature look. Mr. Murphy emphasizes the positive effect this will have and describe the brand's repositioning as " a huge opportunity...to fill in with trend-right products and focus on new category development. Marketing will shift disproportionately to acquire new customers," and that is the strategy that The Gap is going to undertake.