Old Navy, Inc. is an international American clothing and accessories retailing company owned by multinational corporation Gap, Inc. The retailer sells clothing and accessories, including jeans, shirts, shorts, skirts, sweaters, swimwear, footwear, handbags, hats, jewelry, belts, and technological gadgets. Old Navy's corporate headquarters are in the Mission Bay neighborhood of San Francisco, California. The brand is all about bringing high-quality fashion essentials to the whole family.
In March 1994, Gap Warehouse was renamed Old Navy Clothing Co. to establish a separate image from its parent company Gap Inc. In March 1994, the first Old Navy locations opened in several northern California towns. Later that year, Old Navy opened 42 other stores, and their parent company, Gap, renamed nearly all the 45 Gap Warehouse stores to Old Navy. In 1997, it became the first retailer to pass $1 billion in its first four years in business and, by 2000, had opened 500 stores. In 2001, Old Navy expanded internationally, opening 12 stores in Ontario, Canada. In 2005, Old Navy's management rebranded the division in a bid to compete with Hollister Co. and American Eagle Outfitters. But the costly rebranding proved a bad investment. In 2012, after several years of Old Navy losing sales to rival retailer H&M, Gap Inc. hired H&M executive Stefan Larsson to run its Old Navy division. By 2015, Old Navy's yearly sales had reached $6 billion per year in the United States, almost equaling Gap Inc.'s Gap and Banana Republic divisions combined. Today, Old Navy has over 1,100 locations, 53,000 employees, and around $4 billion in annual revenue.
