Gap has tapped a top Mattel executive who re-energized Barbie and Hot Wheels to be its next president and CEO.
FILE - Richard Dickson, president and chief operating officer of Mattel Inc., stands for a photo on Mattel's showroom floor at Toy Fair, in New York, Feb. 18, 2017. Gap Inc. said Wednesday, July 26, 2023, that it has tapped Dickson, who re-energized Barbie and Hot Wheels, to be its next president and CEO. –
The move comes as Gap, once an iconic purveyor of khakis and other casual wear in its heyday in the 1990s, has been struggling with a sales slump for years despite numerous initiatives to fix the business through a revolving list of executives. The pandemic and surging supply chain costs exacerbated financial conditions at The Gap, in addition to other disruptions.
“His experience as a proven transformational brand builder and belief in the power of inclusivity, make him a perfect fit for Gap Inc.,"he said in a statement.Under Dickson's leadership, Mattel developed and launched a brand-building approach that has been critical in growing Mattel’s power brands, particularly with the. Barbie dolls have regained popularity as the company diversified the lineup with more skin tones and versions with prosthetic legs, wheelchairs and hearing aids.
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