It’s 2016, and a fire is ripping through a Gap distribution center in Fishkill, New York. When the smoke clears, thousands of Gap T-shirts, khakis, and jeans are reduced to ash. But one analyst sees good news in the wreckage. Gap probably couldn’t have sold all those clothes anyway, and that’s because the company has lost the pop culture cool that once brought shoppers to it in droves. For the next four years, sales don’t improve at Gap and Banana Republic, and Old Navy starts slipping, too. So Gap does something dramatic: It partners with a rapper, a fashion icon, and a lightning rod for controversy — Kanye West. That bold bet won’t spark a comeback, though. It’ll burn Gap instead.
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