The Journal. He Revived Barbie. Now He’s Turning Around Gap
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Apr 1, 2025 In this conversation, Richard Dickson, CEO of Gap Inc. and the mastermind behind the revitalization of the Barbie brand, discusses his bold vision for restoring Gap's former glory. He shares insights on the fashion industry's complexities and emphasizes the importance of reconnecting with legacy consumers through storytelling. Dickson also dives into the significance of celebrity collaborations and the role of nostalgia in brand relevance. He outlines strategic efforts to attract higher-end consumers by focusing on creativity, quality, and innovative marketing.
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Gap's Decline
- In the 1990s, Gap was a cultural icon, with supermodels and celebrities wearing the brand.
- However, in the last two decades, Gap Inc. faced declining sales due to competition and lost relevance.
Loss of Brand Narrative
- Gap's main challenge was its loss of relevance and brand narrative, focusing on product and price rather than storytelling.
- The company became a retailer that sold stuff instead of a purpose-driven brand.
Return to Origins
- To revitalize a brand, examine its origins and what made it great initially.
- Understand the brand's original purpose and find a way to make it relevant for today's consumer.