When Gap (NYSE: GPS) first announced that it was bringing in Glenn Murphy as CEO, I thought it sounded like a good idea. He has strong experience in branding and retail, and his lack of fashion know-how can be compensated for with top designers. He can provide a broad strategic vision for remaking Gap Stores into a destination -- a brand that stands for something, the way that Abercrombie (NYSE: ANF) does. Think of it this way: There are certain people who are referred to as "Abercrombie boys" -- tall, attractive, tan, metrosexuals. But a "Gap boy?" What would that even mean? This is where Murphy can come in. Fashion isn't just about clothing. It's about branding.
He recently told the Wall Street Journal that he "believes in these brands", referring to Gap, Old Navy, and Banana Republic, the three stores the company owns.
I think the first step for Gap to return to glory is a complete makeover of the stores -- they're boring. In the ones that I've been in, the lighting is bland, and there's not enough color. It doesn't really look that different from a Wal-Mart (NYSE: WMT), a strong brand but not one to emulate in terms of creating a shopping experience.
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