Fisher, Donald G (1928– )

US retail entrepreneur, who co-founded the Gap (as in ‘generation gap’) stores in 1969 with his wife in California, and built it into a national retail chain and then a global brand, famous for its casual clothing, with more than 1,200 outlets worldwide. Forbes magazine estimated his net worth at $2.6 billion in 2003. He stepped down as chairman of the company in 2004 but remains chair emeritus, having distributed nearly half of his stock holdings to his children.

Fisher opened the first Gap store in California selling only Levi's jeans, but in 1976, when the company went public, other brands were introduced. The Gap brand was launched in 1984, GapKids in 1986, and BabyGap in 1990. Gap is known for its innovative advertising campaigns. He stepped down as CEO of Gap in 1995, but remained chairman until 2004.

Fisher was born in San Francisco and graduated with a BS in business administration from the University of California in 1950. He worked as a property developer until 1969, when he tried unsuccessfully to exchange a pair of jeans in a shop. As a result, he and his wife opened their first Gap store selling only full-priced Levi jeans and, to attract customers into the shop, discounted records and tapes. He only introduced other private labels when the US Federal Trade Commission ruled against Levi Strauss' price setting in 1976 (the year Gap went public).

Having appointed retail specialist Mickey Drexel in 1983, Fisher bought Banana Republic, a company which had two stores of colourful travel clothing. In 1984, after remodelling the stores, he launched the Gap line as a new brand of affordable style. GapKids opened in 1986, followed by the first international store in London in 1987, and BabyGap in 1990. Gap had also introduced its award-winning Individuals of Style advertising campaign in 1988, which included actor Kim Basinger (in an oversized white T-shirt and wearing pearls) and jazz musician Dizzy Gillespie (in a black mock turtleneck). Before Drexel was named CEO of Gap in 1995, they launched the Old Navy stores, offering value-price clothes for families and specializing in innovative retail displays.

Fisher established the Gap Foundation in 1977, which supports health and education issues, including AIDS charities. He served on former US president Ronald Reagan's Advisory Council for Trade Negotiations. Although Fisher funds the National Resources Defence Council, his investment in timberlands was the subject of a Save the Redwoods/Boycott the Gap campaign in 2000.