Clothing brand Gap has fired top woman Sonia Syngal for mismanagement. The American group struggled with significantly increased transport costs for some time and had to offer increasingly higher discounts to sell its much too large stocks.
The latter is heavily charged to Syngal because the company no longer has any profit left.
Syngal was at the helm of Gap for more than two years, which has many stores and operated the Old Navy, Athleta and Banana Republic brands. When she first started working there, the corona crisis came. They countered that by immediately expanding significantly online. But she couldn’t hold onto that strong start.
A Morningstar analyst points out Syngal’s tactics to do more with plus-size women have failed. She tried to add more plus-size women’s clothing at Old Navy to increase the brand’s appeal. But this didn’t catch on as the size range was not well balanced, with too many of some sizes in stock and not enough of others.
It is not yet known who will succeed Syngal. Commissioner President Bob Martin has decided to take charge of Gap on an interim basis.