Donald Fisher, Co-founder of GAP dies at 81
Donald Fisher, who started a blue jeans store in San Francisco in the 1960s which eventually turned into a retail empire, called The Gap, died at the age of 81.
September 30, 2009 | comments ( 0 ) |
Donald Fisher, who started a blue jeans store in San Francisco in the 1960s which eventually turned into a retail empire, called The Gap, died at the age of 81. The company now has more than 3,100 stores and $14.5 billion in revenues. When Fisher started his business, he had no experience in the retail trade. Instead, his background was in real estate. Like any good entrepreneur, he saw a mega opportunity -- that is, a change in the fashion habits of the masses. After all, the Gap stands for "generation gap." And the Baby Boomers were certainly ripe customers -- and willing to pay. The Gap grew quickly and pulled off an IPO in 1976. However, to scale the business, Fisher realized he needed a strong management team. So in the early 1980s, he hired Millard Drexler to run the firm. He wasted little time in ramping the growth rate -- and expanding the company into other categories. Fisher's career definitely made a huge difference in American retail history and he was one of America's great entrepreneurs.
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