For the past few years, the trouble with Gap was its image and its inability to catch up with current fashion trends, despite hiring famous icons like Sarah Jessica Parker to lead its ad campaigns.
As reported in BusinessWeek, Gap's new chairman and CEO Glenn Murphy is set to change the face of the brand once more.
"We have a lot of work ahead of us," Murphy said in a statement, "but we have great brands with enormous potential, and I feel confident that our creative talent and dedicated store employees will help fuel our progress."
The new fall campaign called "Classics Redefined" is being received favorably.
"It takes time to win back customers who have been disappointed for three years," Chen wrote. She added: "It will likely take at least a few more quarters of consistent execution and improved merchandise before customers are convinced that Gap is back."
Expect the first signs of a turnaround in Spring 2008 at the earliest, she says.
Is the Gap back? We'll have to go to the stores and see for ourselves.