In its second-largest acquisition, Amazon buys the company for $970 million.
Consumer complaints about a new logo prompt the retailer to return to the old one.
Clothing retailer Gap Inc. reinstated its former logo after consumers complained about the new logo design. The company unveiled the new design last week featuring black letters on a white background with a blue box hovering over the “p”, but it was met with criticism online and on social networks such as Facebook.
“We heard them say over and over again they are passionate about our blue box logo, and they want it back. So we’ve made the decision to do just that–we will bring it back across all channels,” says Marka Hansen, president of Gap Brand North America.
Gap, No. 23 in the Internet Retailer Top 500 Guide, also acknowledged making mistakes during the logo change. “There may be a time to evolve our logo, but if and when that time comes we’ll handle it in a different way,” Hansen says.
The company also alerted fans that the blue box will become red for the holiday shopping season.