Old Navy is owned by Gap Inc., which also owns Gap, Athleta and Banana Republic. Old Navy made $8,657M of net sales in fiscal 2025. Gap Inc. is still largely a family company: William, Robert and John Fisher together hold about 46%.
Update (10 Oct 2026): the ownership figures at the top of this page now come from Gap Inc.’s 2026 proxy and fiscal 2025 Form 10-K. The original article below is kept as it was; where its older figures differ, the dated filing figures above apply.
How we source: figures on this page come from the company’s own filings (SEC 10-K, 10-Q, prospectus and earnings releases, or its annual report), with the period stated next to each number; outside estimates appear only labelled, with their source and date. Last refreshed October 2026. Our methodology.
Old Navy is one of Gap Inc.’s four brands, with Old Navy, Gap, Banana Republic and Athleta named in the company’s fiscal 2025 Form 10-K. It reported $8,657M of net sales out of Gap Inc.’s $15,366 million. Gap Inc.’s 2026 proxy lists William S. Fisher (16.09%), Robert J. Fisher (15.39%) and John J. Fisher (14.73%), together about 46%, plus Vanguard (6.95%) and BlackRock (5.14%).
The Business Engineer view
Old Navy is the engine of Gap Inc.: more than half of group sales, from a valuebrand. Its owners are effectively the Fisher family, which built Gap and still holds nearly half of the company.
The full story
Ownership
Who Owns Old Navy
Key elements and framework breakdown
Key Elements
Products and Services
Old Navy is a clothing and accessories brand that offers affordable, casual, and family-oriented fashion for men, women, children, and babies. Their product lin
Revenue Streams
Old Navy generates revenue primarily through the sale of its clothing and accessories. This includes sales through physical stores, e-commerce, and outlet locat
Customer Segments
Old Navy targets budget-conscious families and individuals looking for affordable, comfortable, and stylish clothing for everyday wear. They cater to diverse ag
Distribution Channels
Old Navy distributes its products through its network of retail stores, including standalone stores, outlet locations, and e-commerce. They also offer convenien
Key Partnerships
Old Navy collaborates with influencers, models, and celebrities for marketing campaigns and product endorsements. They also partner with suppliers and manufactu
Key Resources
Old Navy's key resources include its design teams, supply chain, brand reputation, retail locations, and a loyal customer base.
Cost Structure
Old Navy incurs costs in design and production, marketing and advertising, rent and maintenance of retail locations, employee salaries, and materials for clothi
Competitive Advantage
Old Navy's competitive advantage lies in its reputation for providing affordable, family-friendly fashion that offers a balance between style and budget-conscio
Old Navy is part of Gap Inc, a group that in fiscal 2025 generated $15.4 billion in net sales and which comprises brands like Gap, Old Navy, Banana Republic, and Athleta; it is primarily owned by the Fisher family, heirs of Donald George Fisher, who co-founded The Gap Inc. with his wife Doris F. Fisher, back in 1969. Donald George Fisher’s heirs: John J. Fisher beneficially owned 14.73% of the class according to Gap Inc.'s 2026 proxy statement, while William S. Fisher held 16.09% and Robert J. Fisher 15.39%. Institutional investors comprise The Vanguard Group with 6.95% and BlackRock with 5.14%, according to Gap Inc.'s 2026 proxy statement.
Updated 6 October 2026: we refreshed 19 figures on this page, now taken from SEC EDGAR filings. Anything we could not check against a current source keeps its original year, so you can see how old it is.
Latest figures · checked 6 October 2026
Gap Inc.’s net sales for the second quarter of fiscal 2026 were $3.7 billion, down 2% from the prior year. SEC EDGAR filings
Robert J. Fisher, William S. Fisher, John J. Fisher and Fisher-trustee charitable entities together beneficially owned 38.74% of Gap Inc.’s outstanding shares, according to the 2026 proxy statement. SEC EDGAR filings
As of January 31, 2026, Gap Inc. had a global workforce of approximately 79,000 employees. SEC EDGAR filings
Gap Inc. ended fiscal 2025 with 2,474 Company-operated stores and approximately 1,000 franchise store locations. SEC EDGAR filings
Gap Inc. reported net sales of $15.4 billion for fiscal 2025, compared with $15.1 billion for fiscal 2024. SEC EDGAR filings
Old Navy’s net sales for the second quarter of fiscal 2026 were $2.1 billion, down 4% from the prior year. SEC EDGAR filings
Aspect ยท Description ยท Analysis ยท Examples
Products and Services
Description. Old Navy is a clothing and accessories brand that offers affordable, casual, and family-oriented fashion for men, women, children, and babies. Their product line includes clothing, footwear, accessories, and activewear.
Analysis. Old Navy’s focus is on providing affordable, family-friendly fashion for a wide audience, emphasizing value and style.
Examples. Old Navy’s denim collection, kids’ graphic tees, activewear.
Revenue Streams
Description. Old Navy generates revenue primarily through the sale of its clothing and accessories. This includes sales through physical stores, e-commerce, and outlet locations. They also offer store credit cards.
Analysis. Sales of clothing and accessories are the primary revenue source. Store credit cards can boost customer loyalty and sales.
Examples. Sales through Old Navy stores, e-commerce platform, Old Navy credit card.
Customer Segments
Description. Old Navy targets budget-conscious families and individuals looking for affordable, comfortable, and stylish clothing for everyday wear. They cater to diverse age groups and sizes.
Analysis. A broad customer base allows Old Navy to reach various demographics and increase market reach.
Examples. Families seeking budget-friendly clothing, individuals looking for affordable fashion.
Distribution Channels
Description. Old Navy distributes its products through its network of retail stores, including standalone stores, outlet locations, and e-commerce. They also offer convenient options like in-store pickup and curbside pickup.
Analysis. A combination of physical stores and e-commerce provides accessibility and convenience for customers. Outlet stores offer discounted options.
Examples. Old Navy brick-and-mortar stores, Old Navy online store, Old Navy Factory outlet locations.
Key Partnerships
Description. Old Navy collaborates with influencers, models, and celebrities for marketing campaigns and product endorsements. They also partner with suppliers and manufacturers for clothing production.
Analysis. Influencer partnerships and celebrity endorsements help boost brand visibility. Strong supplier relationships ensure product quality and affordability.
Examples. Collaborations with influencers for fashion campaigns, partnerships with clothing manufacturers.
Key Resources
Description. Old Navy’s key resources include its design teams, supply chain, brand reputation, retail locations, and a loyal customer base.
Analysis. Design teams are crucial for creating value-focused fashion collections. A streamlined supply chain ensures product availability. A loyal customer base contributes to brand loyalty.
Description. Old Navy incurs costs in design and production, marketing and advertising, rent and maintenance of retail locations, employee salaries, and materials for clothing production.
Analysis. Investment in design and marketing is essential for staying competitive in the value-focused market. Retail space costs are significant due to prime locations.
Examples. Designing new budget-friendly collections, advertising campaigns, rent for store locations.
Description. Old Navy’s competitive advantage lies in its reputation for providing affordable, family-friendly fashion that offers a balance between style and budget-consciousness. They emphasize affordability while staying on-trend.
Analysis. Offering fashionable clothing at budget-friendly prices appeals to a wide customer base, making Old Navy a go-to choice for value-conscious shoppers.
Examples. Affordable and stylish back-to-school clothing, consistent value-focused fashion updates.
Value Proposition
Description. Old Navy offers affordable and accessible clothing and accessories for the entire family, allowing customers to dress comfortably and stylishly without breaking the bank.
Analysis. Old Navy’s value proposition centers on providing budget-friendly, comfortable, and stylish fashion options for families and individuals, making customers feel good about their purchases.
Examples. Shopping for budget-friendly summer outfits for the family at Old Navy, choosing affordable activewear.
Old Navy: A Fashionable Staple in Gap Inc.
Old Navy, a beloved American clothing brand, is a vital component of Gap Inc., a prominent retail conglomerate known for its diverse portfolio of brands, including Gap, Old Navy, Banana Republic, and Athleta. Gap Inc.'s fiscal 2025 net sales of $15.4 billion reflects the group’s strong market presence and enduring appeal to consumers worldwide. The Fisher family, descendants of Gap Inc.’s co-founders Donald George Fisher and Doris F. Fisher, play a crucial role in the company’s ownership.
Key numbersChecked 6 October 2026
$3.7 billionGap Inc.'s net sales for the second quarter of fiscal 2026 were $3.7 billion, down 2% from the prior year.SEC EDGAR filings
$15.4 billionGap Inc. reported net sales of $15.4 billion for fiscal 2025, compared with $15.1 billion for fiscal 2024.SEC EDGAR filings
$2.1 billionOld Navy's net sales for the second quarter of fiscal 2026 were $2.1 billion, down 4% from the prior year.SEC EDGAR filings
38.74%Robert J. Fisher, William S. Fisher, John J. Fisher and Fisher-trustee charitable entities togetherโฆSEC EDGAR filings
In one lineOld Navy is part of Gap Inc, a group that in fiscal 2025 generated $15.4 billion in net sales and which comprises brands like Gap, Old Navy, Banana Republic , and Athletaโฆ
FourWeekMBABusiness EngineerAt a glance
Fisher and Fisher-trustee charitable entities together beneficially owned 38.74% of Gap Inc.'s outstanding shares, according to the 2026 proxy statement.
Gap Inc. reported net sales of $15.4 billion for fiscal 2025, compared with $15.1 billion for fiscal 2024.
With a substantial ownership stake of 16.09% according to Gap Inc.'s 2026 proxy statement, William Fisher plays a pivotal role in Gap Inc.'s ownership structure.
Notably, The Vanguard Group holds 6.95% and BlackRock holds 5.14% of the company, according to Gap Inc.'s 2026 proxy statement.
Layout and figures refreshed 6 October 2026. Sources are listed at the end of the article.
Why it mattersFrom the article
As the primary owners, the Fisher family ensures Gap Inc.'s legacy and continued growth.
As a vital component of Gap Inc.'s portfolio, Old Navy plays a key role in the group's continued growth and success.
The Fisher Family: Steadfast Guardians
As the primary owners, the Fisher family ensures Gap Inc.’s legacy and continued growth. Heirs of Gap Inc.’s co-founders, Donald George Fisher and Doris F. Fisher, the family’s commitment to the brand runs deep. Their vision and passion for retail excellence laid the foundation for Gap Inc.’s success. In the spirit of their parents’ entrepreneurial spirit, the Fisher family remains actively involved in the company’s leadership and strategic decisions.
FourWeekMBABusiness EngineerTimeline, as stated in the article
2025
Gap Inc. reported net sales of $15.4 billion for fiscal 2025, compared with $15.1 billion for fiscal 2024.
2026
As of January 31, 2026, Gap Inc. had a global workforce of approximately 79,000 employees.
2026
Gap Inc.'s net sales for the second quarter of fiscal 2026 were $3.7 billion, down 2% from the prior year.
John Fisher: A Pillar of Support
Among the Fisher family heirs, John Fisher stands as a significant shareholder with 14.73% beneficial ownership according to Gap Inc.'s 2026 proxy statement. His involvement and dedication to Gap Inc. contribute to the brand’s ongoing success and market prominence. As a guardian of the family legacy, John Fisher’s stewardship ensures Gap Inc.’s sustained growth and prominence in the fashion industry.
William Fisher: A Strong Presence
With a substantial ownership stake of 16.09% according to Gap Inc.'s 2026 proxy statement, William Fisher plays a pivotal role in Gap Inc.’s ownership structure. His commitment to upholding the company’s values and vision solidifies Gap Inc.’s standing as a leading player in the retail sector. William Fisher’s active engagement as a shareholder reinforces the brand’s resonance with consumers and investors alike.
Robert Fisher: A Steady Influence
Completing the triumvirate of Fisher family heirs, Robert Fisher holds a significant ownership share of 15.39%, according to Gap Inc.'s 2026 proxy statement, in Gap Inc. His steadfast presence ensures the company’s adherence to its founding principles and forward-thinking strategies. Robert Fisher’s involvement secures Gap Inc.’s position as a forward-looking and customer-centric fashion conglomerate.
Institutional Investors: A Diverse Group
Apart from the Fisher family, institutional investors also play a vital role in Gap Inc.’s ownership structure. Notably, The Vanguard Group holds 6.95% and BlackRock holds 5.14% of the company, according to Gap Inc.'s 2026 proxy statement. Their investments underscore Gap Inc.’s attractiveness to professional investment firms and signal confidence in the brand’s continued success.
Old Navy: A Fashion Powerhouse
Old Navy, a flagship brand within Gap Inc., epitomizes accessible and stylish fashion for the entire family. With its unique blend of trendy designs, affordable pricing, and broad appeal, Old Navy has captured the hearts of millions of customers worldwide. As a vital component of Gap Inc.’s portfolio, Old Navy plays a key role in the group’s continued growth and success.
Conclusion
Old Navy’s position within Gap Inc., alongside iconic brands like Gap, Banana Republic, and Athleta, reflects the group’s enduring legacy and leadership in the fashion industry. The Fisher family’s ownership and active involvement in Gap Inc. underscore their commitment to preserving the brand’s heritage and fostering its continued prosperity. Supported by institutional investors, Gap Inc. and Old Navy remain at the forefront of fashion, resonating with consumers and investors alike. As fashion preferences evolve, Gap Inc.’s diverse brand portfolio and commitment to customer satisfaction ensure its lasting impact on the global retail landscape.
Old Navy and Gap Inc. Ownership Highlights:
Renowned Brand: Old Navy is a key brand under Gap Inc., a prominent retail conglomerate with a diverse brand portfolio including Gap, Banana Republic, and Athleta.
Gap Inc.’s Impressive Revenue: With net sales of $15.4 billion in fiscal 2025, Gap Inc.’s strong market presence is evident.
The Fisher Family’s Legacy: Descendants of Gap Inc.’s co-founders, Donald George Fisher and Doris F. Fisher, the Fisher family holds significant ownership and plays a pivotal role in the company’s decision-making.
John Fisher’s Significant Stake: Among the heirs, John J. Fisher held 14.73% according to Gap Inc.'s 2026 proxy statement, showcasing his deep commitment to Gap Inc.
William & Robert Fisher’s Ownership: William and Robert Fisher, with 16.09% and 15.39% ownership respectively according to Gap Inc.'s 2026 proxy statement, also play crucial roles in the company, ensuring the legacy of Gap Inc. continues.
Institutional Investors’ Confidence: Beyond the Fisher family, institutional investors like The Vanguard Group (6.95%) and BlackRock (5.14%), according to Gap Inc.'s 2026 proxy statement, demonstrate strong confidence in Gap Inc.’s business model and future prospects.
Old Navy’s Market Position: Recognized for its trendy yet affordable fashion, Old Navy stands out as a significant brand under Gap Inc., appealing to a broad spectrum of consumers.
Gennaro Cuofano is a CRO and tech executive who has worked in AI since late 2015, starting with bringing NLP, natural-language generation, voice and chatbot products to the marketing industry. His background is in law and finance: he holds a Master's degree in Law and an International MBA with an emphasis on corporate finance (LUISS Business School and the University of San Diego, 2012), and worked as a financial analyst at a real-estate investment firm in San Diego and as an assistant controller. His work focuses on business model strategy, business engineering and, more broadly, structural analysis: how companies make money, read from their own filings. He created FourWeekMBA and leads research there and at The Business Engineer, his newsletter on AI and business strategy, with over 95,000 subscribers and more than 1,000 published analyses. His writing has also appeared on Entrepreneur, HackerNoon and Search Engine People. Find him on LinkedIn and Substack. See how we source.
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