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Gap, Inc. to retain name following split with Old Navy

By Danielle Wightman-Stone

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Business

Gap Inc. has announced that, following the completion of its split from Old Navy, the new public company, currently referred to as NewCo, will retain the Gap Inc. name.

The new Gap Inc. will include the remaining brands following the separation from Old Navy, including Gap, Banana Republic, Athleta, Intermix, Janie and Jack, and Hill City.

The u-turn on the name change came as the company wrapped up a week-long celebration of its iconic Gap brand’s 50th anniversary.

“As we celebrate this milestone anniversary, we have reflected on the remarkable history of this amazing company and the power and global influence of the Gap name,” said Art Peck, president and chief executive officer of Gap Inc. in a statement. “Over the past 50 years, the credibility and reputation the company has built with the Gap Inc. name transcends any individual brand.”

Peck added: “Our brands remain a cultural cornerstone with global relevance. I am optimistic and excited about the future of the new Gap Inc. Our focus will be on delivering quality revenue growth, and accelerating profitability and cash flow, while positively impacting our employees, our shareholders, the communities in which we do business, and our planet.”

Old Navy will continue to operate under its current name when it becomes a standalone, publicly-traded company, with further details of the planned separation expected later this month.

As previously announced, Sonia Syngal, who has led Old Navy since 2016, will continue as the chief executive of Old Navy and Art Peck will become chief executive of the new Gap Inc.

Image: courtesy of Gap

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