In March, it also unveiled a ’90s-themed clothing collab with fashion label Palace.
More recently, Gap dressed Da’Vine Joy Randolph in an all-denim Gap gown for the Met Gala.
Early signs indicate that leaning into nostalgia and entertainment marketing are paying off for Gap’s parent company. In Q4 of 2023, Gap Inc. reported a 1% rise in net sales to $4.3 billion, turning a profit of $185 million. This was up from the same period in 2022, when it reported a net loss of $273 million.
However, Everett and Torres will also have to restore a sense of purpose to the brand, with Statista finding that while Gap is recognized by 90% of online shoppers in the U.S., just 25% buy from the retailer.
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