Old Navy

Old Navy is the value-priced fashion brand that Gap Inc. launched in 1994 to capture shoppers who wanted Gap style without the Gap price tag. Conceived by Gap founder Donald Fisher and developed under CEO Millard Drexler, the first store opened in March of that year in San Francisco. The name came from a Paris bar Drexler visited, and the nautical theme stuck: a big white 'O' logo and a dog mascot named Magic greeted customers at the doors.

From the start, Old Navy grew fast. Within a few years, 500 stores had opened across the United States, and the brand became known for its bright, playful interiors and constant promotions. Today it operates more than 1,000 locations in the U.S., Canada, Mexico, and the Philippines, with flagship stores in New York, Seattle, Chicago, Manila, and Mexico City. Its e-commerce site, oldnavy.gap.com, serves customers throughout North America and select international markets.

Old Navy is the largest brand within Gap Inc., generating roughly $8 billion in annual revenue, about half of the parent company's total sales. The brand's success comes from a straightforward formula: trend-forward basics, a wide range of sizes from 00 to 30 in women's plus, and aggressive pricing with frequent 50% off sales. It consistently outperforms its sibling brands Gap, Banana Republic, and Athleta, making it the most valuable asset in the portfolio. [edit]