The Gap 2012 Annual Report Download - page 23

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5
Part I
Item 1. Business.
General
The Gap, Inc. (Gap Inc., the “Company,” “we,” and “our”) was incorporated in the State of California in July 1969 and was
reincorporated under the laws of the State of Delaware in May 1988.
Gap Inc. is a leading global apparel retail company. We offer apparel, accessories, and personal care products for men,
women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, Athleta, and Intermix brands. Our
global portfolio of distinct brands across multiple channels and geographies gives us a competitive advantage in the
global retail marketplace. We operate in the specialty, outlet, online, and franchise channels.
Gap Inc. has Company-operated stores in the United States, Canada, the United Kingdom, France, Ireland, Japan, China,
and Italy. We also have franchise agreements with unaffiliated franchisees to operate Gap and Banana Republic stores
throughout Asia, Australia, Eastern Europe, Latin America, the Middle East, and Africa. Under these agreements, third
parties operate, or will operate, stores that sell apparel and related products under our brand names. We have grown our
franchise store base to 312 stores in 40 countries at the end of fiscal 2012. Our products are also available to customers
online in over 80 countries. Most of the products sold under our brand names are designed by us and manufactured by
independent sources. We also sell products that are designed and manufactured by branded third parties, especially at
our Piperlime and Intermix brands.
Gap. Founded in 1969, Gap is our flagship brand and remains one of the most iconic apparel brands in the marketplace
today. The brand stands for casual, American style and offers classic apparel at accessible price points to help
customers express their individuality. In addition to designing its own merchandise, Gap offers limited capsule collections
in partnership with some of the fashion industry’s best-loved designers and other third-party merchandise from time to
time.
Gap entered the children’s apparel market in 1986 with GapKids and in 1989 with babyGap. Maternity apparel was later
added to the collection. In 1998, we launched GapBody, which offers loungewear, sleepwear, intimates, and active
apparel for women. Today, Gap products are available globally in our specialty and outlet stores, online, and in franchise
stores.
Banana Republic. Banana Republic is a global apparel and accessories brand that focuses on delivering modern,
covetable workplace style for both men and women. The brand offers versatile workwear that can be styled for any
occasion - from desk to dinner. Banana Republic also partners with notable fashion designers to offer exclusive limited-
edition collections inspired by the designers' distinct styles and trends.
Acquired in 1983 with two stores, Banana Republic has evolved to offer collections that include apparel, handbags,
shoes, jewelry, personal care products, and eyewear for men and women at higher price points than Gap. Today,
customers can purchase Banana Republic products in our specialty and outlet stores, online, and in franchise stores.
Old Navy. Old Navy opened its first store in 1994, offering fun, fashion, and value to the whole family. The brand offers
customers on-trend clothing and accessories, as well as updated basics for adults, children, and babies, at great prices
in a unique and energizing shopping environment. Customers can purchase Old Navy products in stores and online,
which includes online-exclusive items such as a plus-size line. In July 2012, the brand opened its first store outside of
North America in Odaiba, Japan.
Piperlime. Launched in 2006, Piperlime offers a mix of private-label and branded apparel and jewelry as well as leading
brands in shoes and handbags. The brand inspires customers with a fresh and unique mix of products, brands, and price
points, as well as favorite picks and tips on how to wear the season's trends from famous guest editors. Customers can
shop online and in the brand's first store, which opened in the SoHo neighborhood of New York in September 2012.
Athleta. Acquired in September 2008, Athleta is Gap Inc.’s premier brand in the rapidly growing women's active apparel
market. Athleta offers high-quality, stylish, and functional apparel, footwear, and accessories across a wide variety of
sports and fitness activities, including crossover apparel and casualwear. Customers can purchase Athleta products
online, in stores, and through catalogs.
Intermix. Gap, Inc. acquired Intermix Holdco Inc. ("Intermix") on December 31, 2012. Intermix is known for its tasteful
mixing of luxury and contemporary fashion and offering the most coveted existing and up-and-coming designer brands.
In addition to its array of seasonal must-haves, Intermix also offers exclusive designer product. Customers can shop in
stores in the United States and Canada and online.
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