Gap owned American casual in the 1990s under Mickey Drexler. Hit $13.7 billion in sales by 2000. The blue logo was everywhere — khakis and tees became the uniform.
What Changed
Fast fashion brands like Zara ate their lunch with 2-3 week product cycles versus Gap's 6-9 months. Malls died. Design went bland. Then came deal fever: Gap partnered with Kanye West in 2020 despite warnings from Drexler. Corporate culture clashed with Kanye's chaos — conflicting demands, trash-bag displays, anti-Semitic meltdown.
Where it Landed
Stock down 65% from 2022. Kanye partnership terminated. $53M write-off. 1,800 workers laid off. Back to square one with no clear identity.
The Principles
1.
Know who you're getting into bed with. Mickey Drexler warned Gap the partnership wouldn't work — deal fever made them ignore the mismatch.
2.
You can't outsource brand identity to a celebrity. Gap had no vision of its own, so Kanye's chaos became their chaos.
3.
Speed to market is existential in fashion. When competitors go from design to shelf in 3 weeks and you take 9 months, you're already dead.
Builder's Takeaway
If you're betting the brand on a partnership, remember:
•
Cultural fit matters more than star power or projected revenue
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Deal fever clouds judgment — listen to the people who've been there
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Celebrity partnerships amplify who they are, not who you want them to be
