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Gap Inc. to Split in Two, With Old Navy Standing Alone

Rivet’s 2021 winter issue has dropped! This in-depth issue examines the steps the global denim industry is taking to minimize its impact on the environment, from implementing zero waste production and design processes to establishing greenhouse gas emissions goals aligned with the Paris Agreement.

Gap Inc. said Thursday it plans to create two independent publicly traded companies–Old Navy, focused on family apparel, and a yet-to-be-named “NewCo” that will consist of the Gap brand, Athleta, Banana Republic, Intermix and Hill City. The spin-off will enable each company to maximize focus and flexibility, align investments and incentives to meet their particular…

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