The world can’t seem to get enough of Barbie, and Gap Inc. is the latest company to chase its halo effect.
The American mall chain announced Wednesday it had tapped Barbie-maker Mattel’s chief operating officer Richard Dickson to be its new chief executive, concluding a year-long search for the right leader to revitalise its portfolio of ailing brands, including the namesake Gap, Old Navy and Banana Republic.
Dickson has been credited with helping orchestrate Mattel’s turnaround in recent years, lifting sales for the Barbie franchise to a 15-year high in 2021 of $1.7 billion, compared to just north of $1 billion in 2014.
Like Barbie, Gap has long struggled to remain relevant. Even recent bright spots in its stable, Old Navy and Athleta, have softened in recent years.
Dickson is a promising hire, but his success at Gap is hardly guaranteed. Leaders at the company have been trying to turn the business around for the last 20 years with little avail.
Read BoF’s exploration into whether Dickson can replicate the Barbie playbook to save a $15 billion fashion empire. #linkinbio
✍️ @kittykewlcat
? Gap
#RetailFashion #Barbie #Mattel
The American mall chain announced Wednesday it had tapped Barbie-maker Mattel’s chief operating officer Richard Dickson to be its new chief executive, concluding a year-long search for the right leader to revitalise its portfolio of ailing brands, including the namesake Gap, Old Navy and Banana Republic.
Dickson has been credited with helping orchestrate Mattel’s turnaround in recent years, lifting sales for the Barbie franchise to a 15-year high in 2021 of $1.7 billion, compared to just north of $1 billion in 2014.
Like Barbie, Gap has long struggled to remain relevant. Even recent bright spots in its stable, Old Navy and Athleta, have softened in recent years.
Dickson is a promising hire, but his success at Gap is hardly guaranteed. Leaders at the company have been trying to turn the business around for the last 20 years with little avail.
Read BoF’s exploration into whether Dickson can replicate the Barbie playbook to save a $15 billion fashion empire. #linkinbio
✍️ @kittykewlcat
? Gap
#RetailFashion #Barbie #Mattel
