Richard Dickson, formerly the president and chief operating officer of Mattel, is now the CEO of Gap.
Gap has named a new CEO, from toy giant Mattel, nearly a year after its previous leader departed. He also had a previous stint at Jones New York, where he ran a number of its brands like Nine West for a decade before rejoining Mattel. In a release, Dickson said that Gap is a “portfolio of iconic brands, known for having defined American style with bold thinking and making quality fashion accessible to millions.
So its fortunes have largely been tied to those of malls — great news in the ’90s but not so much now. Malls have been rapidly losing customers to online shopping and big-box stores. The decline is forcing the retailer to close 30% of its Gap and Banana Republic stores in North America by next year. Gap has tried several strategies to revitalize its flagship brand, including a partnership with Kanye West for a line of Yeezy-branded clothing.
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