Gap Inc has named a new president and CEO for its troubled Gap brand, heralding a revamp to restore declining sales.
Neil Fiske will take on the role, replacing Jeff Kirwan who has held the post for the last three years.
Fiske’s challenge will be to invigorate the somewhat stale brand, drive a sales revival and reduce discounting caused by excess stock levels
Gap, once the core of the apparel giant’s business, has lagged sister brand Old Navy and new chain Athleta in growth over recent years
Gap Inc CEO Art Peck says Fiske brings “significant retail and apparel experience to Gap Inc and a track record of transforming and repositioning brands”.
Fiske’s last role was CEO of surfwear company Billabong International, prior to which he headed outdoor apparel company Eddie Bauer and Bath and Body Works.