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Back in the late 1960s -- when the hippie movement was in full force -- Donald Fisher started a blue jeans store in San Francisco. Yes, it eventually turned into a retail empire, called The Gap (NYSE: GPS). The company now has more than 3,100 stores and $14.5 billion in revenues.Unfortunately, Fisher died over the weekend. He was 81.
When Fisher started his business, he had no experience in the retail trade. Instead, his background was in real estate.
But this was no problem. Like any good entrepreneur, he saw a mega opportunity -- that is, a change in the fashion habits of the masses. After all, the Gap stands for "generation gap." And the Baby Boomers were certainly ripe customers -- and willing to pay.
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