Gap Inc. has appointed Maggie Gauger, a veteran executive from Nike, as global brand president and CEO of Athleta, effective this Friday. Gauger will lead the brand out of its current slump, replacing Chris Blakeslee who left in November.
Athleta’s recent sales performance was disappointing, with net sales falling 6% year-over-year to $308 million in its latest quarter. The decline was worse than expected, and analysts had lowered their expectations for the brand’s turnaround.
Gauger brings extensive experience from her time at Nike, where she led the North America women’s business. Gap Inc.’s CEO Richard Dickson welcomed Gauger’s expertise, citing her ability to drive growth and customer affinity in the athleisure market.
The appointment comes as Gap Inc. seeks to revive its struggling Athleta brand, which has lagged behind its parent company’s recovery since Dickson took over two years ago. Despite efforts by previous executives, including Mary Beth Laughton and Chris Blakeslee, the brand continues to face challenges. Gauger’s arrival may mark a turning point for Athleta, but it remains to be seen how successful she will be in reviving the brand.
Source: https://www.retaildive.com/news/nike-veteran-athleta-brand-ceo/756141