Gap is in the middle of a cultural renaissance. Under the leadership of Mark Breitbard, the brand is reasserting itself at the intersection of music, fashion and storytelling. “It’s been an incredibly fun year for the brand,” said Breitbard. “We’ve leaned into what we call ‘fashiontainment.’ Fashion is entertainment, and that’s where Gap is excelling.”
This reinvention began in 2020, as the pandemic prompted a brand shift toward digital growth and the closure of over 350 underperforming stores. When Breitbard became president and CEO in 2021, he launched a multi-year plan to stabilize Gap’s finances and reignite consumer excitement, focusing on product quality, brand storytelling and relevance.
The results of this strategy began to take shape in 2024 with collaborations like a luxury streetwear capsule with Palace. Gap launched also celebrated partnerships with Cult Gaia, in October, and Dôen, in May. The collection with Cult Gaia, known for its sculptural accessories, had pieces that sold out within days, and the Dôen collaboration resonated with those valuing quality and vintage-inspired design, according to Breitbard.
Campaigns also played a significant role in Gap’s strong year. The “Get Loose” denim campaign featuring Troye Sivan, released in August, became a cultural moment, seeing 4.4 million views on TikTok. And November’s “Creator Choir” campaign featuring the Janet Jackson classic “Together Again,” successfully bridged nostalgia and modernity. “That’s a balance few brands can strike, but it’s where Gap thrives,” Breitbard said.
The results have been positive. Gap’s third-quarter earnings, reported in November, revealed an 8% year-over-year increase in net sales, with a 15% rise in adjusted earnings per share. The brand increased its annual sales targets, signaling growing consumer confidence.
“We’ve spent time cleaning up the business by closing stores, refining our product line and enhancing quality,” Breitbard said. “Now, we’re executing a playbook that combines bold ideas with disciplined operations, and it’s paying off.”
In October 2023, Richard Dickson was appointed CEO of Gap Inc., and designer Zac Posen joined as evp and creative director in February.
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