Retailers paid tribute this week to Gap co-founder Don Fisher who died on Sunday, aged 81.
Fisher, along with his wife Doris, opened the first Gap store 40 years ago and built one of the most successful global retail businesses.
The Fishers launched the business, with $63,000, as a music and denim store selling Levi’s jeans. He and his wife laid out $21,000 each and “raided” their children’s bank accounts promising to pay them back one day.
Gap chairman and chief executive Glenn Murphy said Fisher would be deeply missed. “We lost a friend, a mentor and a true visionary,” he said.
“Don and Doris took a simple idea and turned it into a brand recognised as a cultural icon throughout the world and changed the face of retail forever.”
Gap president of Europe and international strategic alliances Stephen Sunnucks said: “Over the four years I have been at Gap I had the privilege to spend quite a lot of time with Don. He was a legend, creating a whole new category in retail with Doris.
“He always took a deep personal interest in our stores here and had a phenomenal insight into retail in Europe. We’ll all miss him deeply.”
Antony Thompson, managing director of George at Asda, who worked at Gap with Fisher, said that he was “one of the true greats”.
Thompson said: “Full of ideas and a real innovator, I always felt that I learnt something when I met with him to discuss the business in Europe. He was very wise counsel, and passionate and supportive of the international business. He’ll be sorely missed.”
Wall Street Strategies analyst Brian Sozzi said: “When Gap came onto the scene department stores were the prime apparel destination.
“You could say Fisher created speciality retail, offering customers real choices, whether it’s in the number of fits and washes to jeans/knits or how many times the stores are reset/refreshed.”
Fisher stepped down as Gap’s chairman in 2004 but remained involved as chairman emeritus.
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