It was 1983 and Don Fisher knew something was wrong. Its business, Gap Inc., had recently surpassed sales and earnings records, posting the highest numbers in the company’s 14-year history. In theory, Fisher should have been satisfied, but when he walked into his stores he saw chaos. Yellow-labeled sale signs were everywhere; advertising methods seemed cheap, emphasizing discounts rather than quality.
Fisher wanted to run a sleek, full-price business, not a successful business trash can because of its low prices, and he could see the long-term writing on the wall. This was not a sustainable way to run a business. It was profitable, but something was missing.
“Making money is one thing,” he said in his memoirs, “Falling into the gap,” but you have to be proud of what you do. Right now, I was very frustrated and very proud.