|Exchange:||New York Stock Exchange|
|Gap, Inc., was incorporated in the State of California in July 1969 and was reincorporated under the laws of the State of Delaware in May 1988. It is a specialty retailer offering clothing, accessories, and personal care products for men, women, children, and babies under the Gap, Old Navy, Banana Republic, Piperlime, and Athleta brands. Founded in 1969, the Company’s stores offer a selection of classically styled casual apparel at moderate price points. Products range from wardrobe basics such as denim, khakis, and T-shirts to fashion apparel, accessories, and personal care products for men and women. It entered the children’s apparel market with the introduction of GapKids in 1986 and BabyGap in 1989. These stores offer casual apparel and accessories in the tradition of Gap style and quality for children, ages: newborn through pre-teen. It also offers maternity apparel. It launched GapBody in 1998 offering women’s underwear, sleepwear, loungewear, and sports and active apparel. It also operates Gap Outlet stores, which carry similar categories of products. The Company launched Old Navy in 1994 to address the market for value-priced family apparel. Old Navy offers selections of apparel, shoes, and accessories for adults, children, and infants as well as other items, including personal care products. Old Navy also offers a line of maternity wear. The Company acquired Banana Republic, a global, multi-channel brand that is a destination for modern, versatile work wear for both men and women, in 1983 with two stores. Banana Republic offers sophisticated, fashionable collections of casual and tailored apparel, shoes, accessories, and personal care products for men and women at higher price points than Gap. The Company also operates Banana Republic Factory Stores, which carry similar categories of products. It launched Piperlime in October 2006. Piperlime offers customers brands in footwear and handbags for women, men, and kids, as well as tips, trends, and advice from leading style authorities. Acquired in September 2008, Athleta offers customers women’s sports and active apparel and footwear that is stylish and functional for a number of activities, including golf, running, skiing/snowboarding, tennis, and yoga. The Company’s stores offer a shopper-friendly environment with an assortment of casual apparel and accessories that emphasize style, quality, and good value. The range of merchandise displayed in each store varies depending on the selling season and the size and location of the store. It operates stores in the United States, Canada, the United Kingdom, France, Ireland, and Japan, while its independent third-party franchisees own and operate stores in Asia, Europe, Latin America, and the Middle East under the Gap and Banana Republic brand names. Gap, GapKids, babyGap, GapBody, Banana Republic, Old Navy, Piperlime, and Athleta trademarks and service marks, and certain other trademarks, have been registered, or are the subject of pending trademark applications with the United States Patent and Trademark Office and with the registries of many foreign countries and are protected by common law. The Company competes with national and local department stores, specialty and discount store chains, independent retail stores and online businesses that market similar lines of merchandise. It is subject to various proceedings, lawsuits, disputes, and claims arising in the ordinary course of its business.|
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