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27 July 2023

Daily Newsletter

27 July 2023

Gap Inc. names Mattel executive new CEO in bid to tap Barbie success

US apparel company, Gap Inc, which owns fashion brands Old Navy, Gap, Banana Republic, and Athleta, names Mattel's Richard Dickson its new CEO with a retail expert describing him as a "great fit" given his experience of restoring and building brands such as Barbie.

Isatou Ndure July 27 2023

Dickson, who has spent 20 years with Mattel and played a key role in the successful restoration of the iconic Barbie brand will join Gap Inc. as president and CEO effective 22 August 2023.

Prior to his tenure at Mattel, he was president and CEO for The Jones Group, which owns brands such as Nine West and is said to have brought new relevance to dated fashion names for a decade before joining the toy giant.

Aptos retail marketing expert Dave Bruno believes Dickson's experience makes him him a great fit for Gap Inc.

He says Dickson restored the Barbie brand to prominence long before the new Barbie movie dominated the zeitgeist of late.

He adds: “The same can be said for the Hot Wheels brand. He refined their assortments and invested heavily in a multitude of brand collaborations that leveraged the strengths of each brand. And before long, two somewhat dated brands were once again restored to prominence.”

Bruno highlights that in recent years several Gap brands have struggled to resonate with their target customers.

He bets that Dickson walk into the job with a vision for restoring these iconic brands to relevance, and continues: "I suspect he will begin by taking a hard look at their assortment strategies. Assortments bring every brand to life for consumers and given his success extending and enhancing the Barbie line, I expect we will see significant changes to the Gap brands’ assortment strategies."

As the new CEO of Gap Inc., Dickson will be tasked with leading the company's global apparel retail portfolio, leveraging his extensive experience to navigate the challenges and opportunities within the competitive retail landscape. His “visionary leadership” and belief in the “power of inclusivity” are said to align with Gap Inc.'s commitment to delivering quality fashion accessible to millions.

Dickson says: "Gap Inc. is a portfolio of iconic brands, known for having defined American style with bold thinking and making quality fashion accessible to millions. But it's the work ahead that excites me most - the chance to work hand-in-hand with the teams to evolve Gap Inc. for a new era."

He adds: "Under Martin's leadership, the team has begun to truly reset the company for long-term success, establishing a new foundation that I'm eager to build on."

Gap Inc. acknowledges the significant contributions of Bobby Martin, who served as the Interim CEO during a crucial period of transformation for the company.

Gap Inc explains Martin will remain chair of the board and ensure a smooth transition.

Martin adds: “Gap Inc. has a rich heritage, with brands that have great meaning in people’s lives. Amidst a deliberate and thoughtful search process, it became clear that Dickson is destined for this role at this moment. His experience as a proven transformational brand builder and belief in the power of inclusivity, make him a perfect fit for Gap Inc.”

Gap Inc. recently signed the Pakistan Accord for health and safety in the textile and garment Industry.

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