Inside Gap's Comeback: Turning Cultural Relevance Into Revenue

Once a $43 billion giant opening two stores a day, Gap stagnated for two decades, losing its cultural grip while its market value plunged roughly 90%. In 2023, the company tapped former Mattel executive Richard Dickson, architect of Barbie’s revival, to turn the brand around. Early bets paid off: a viral campaign featuring pop group Katseye dominated TikTok, helping spark one of Gap's strongest quarters in 20 years. Now, the retailer faces a tougher test: converting fleeting cultural momentum into durable growth while lifting a four-brand portfolio.