Gap co-founder Doris Fisher dies aged 94

Gap co-founder Doris Fisher dies aged 94Just nowShareSaveAdd as preferred on GoogleShanaz MusaferBusiness reporterCourtesy Gap IncDoris Fisher, who co-founded the Gap retail chain with her husband Don, has died at the age of 94.The couple opened the first Gap store in San Francisco in 1969 after a frustrating shopping experience when Don could not find a pair of jeans that fit. Doris reportedly came up with the company's name, referring to the generation gap, hoping to appeal to younger shoppers.Over the years the business expanded to include the Banana Republic, Old Navy and Athleta brands and currently operates about 3,570 stores worldwide, with annual sales of about $15bn (£11bn).Fisher died on Saturday, with Gap saying she "passed away peacefully, surrounded by her family". No cause of death was specified.While Don was the company's chief executive (CEO) and then chairman, Doris served as its merchandiser until 2003, establishing the brand's style and image."Doris was a full partner in Gap Inc.'s founding and a path-breaking entrepreneur at a time when that was highly unusual for women," said Gap president and CEO Richard Dickson."She understood first-hand the value of self-expression, diversity, and inclusion. And she worked tirelessly to ensure that Gap Inc. always did more than sell clothes." The company said Fisher was also a devoted advocate for the arts and educationAt the time of her death, Fisher had a net worth of $1.7bn, according to Forbes.She had also previously appeared on Forbes' list of 100 most powerful women.Don Fisher died in 2009.The Fishers' three sons remain involved in the family's business and philanthropic interests.ReutersGap, famous for its jeans, khakis, white T-shirts and hoodies, laid out its stores with clothing organised by size and style, which was a pioneering approach at the time.Kate Hardcastle, consumer expert at Insight with Passion, said Fisher broke industry n...