And for our work on Gap with the veteran

denim campaign. So, I think it's

validation

that our work is working and most

importantly that we're driving a

cultural conversation and a lot of that

happens here in Cannes.

>> Y'all were so out of the cultural

conversation before you came to this

company. All right, let's just be

honest. Let's just call it what it is.

And we would everybody you would hop on

this earnings call for Gap and people

would be like the analysts would ask,

are you going to be on TV for the

holiday season for Gap? That was the big

question. But you've said, look, there's

other stories we could be telling. Like

what is the story of Gap you're trying

to tell at this point in its life?

>> Well, first of all, Gap is one of our

brands, but it is the flagship brand of

the company. It's the origin story of

the company. And and to your point, I

think, you know, with the history that

we have, which is incredible history, we

went from being kind of a a great

storyteller to selling stuff. And we had

to get back to storytelling and go back

to the origin story of what made Gap

brand so great to begin with. It was all

about celebrating individuality,

originality, and inclusiveness. And it

had a primary

sort of calling card with music and

artistry. And so we brought that back.

And in the context of that conversation,

we've worked with incredible artists.

Cats Eye, which is of course, you know,

one of the great works that we've done

recently. Troye Sivan, Jungle 74,

Miko, Young Miko was an incredible

campaign. But it's the mixture of

content and commerce and product. The

product has elevated, the storytelling

has elevated, and we're driving a

cultural conversation that's relevant.

And that ultimately is what's working.

And that's the flywheel that we've got

to keep going with. Working at the speed

of culture,

not easy.

>> Especially when you're an apparel

company and you're doing business all

over the world. And oh yeah, you have a

supply chain.

>> That's right. Oh yeah, the supply chain.

And thousands of doors and getting the

right product with the right fit at the

right value proposition at the right

time. So, it's a complex business, but

our team is working incredibly hard and

we're driving, you know, better

performance. And we just got to keep it

going.

>> I I told you this. Um

it was off camera at some point when I

talked to you like I have not really

heard a lot of people you signed these

deals with. And I've dated myself and

I've aged myself out. But all these

deals have seemed to pay off well and

they've drive a lot of notoriety. How

are you finding some of these creative

folks to work with? Like is there some

secret data lab you have inside of Gap

saying, I need to work with this brand

because they're about to to break out,

this creator because they're about to

break out in a big way? Because look,

I've never heard of these folks. Maybe I

just need to get cooler. Yeah.

>> You're pretty cool, Brian, but you know,

you can

a little notch it up.

>> Look, I think first of all, our team is

on it. And I and I think, you know, to

the extent that we're out in the world

meeting people here at Cannes. You know,

we're meeting people, we're we're

developing partnerships, we're on the,

you know, recognized emerging talent

list and with the work that we're doing,

we're actually courting conversations.

But authenticity is a really important

part of that dialogue. I mean, there's a

lot of collaborations out there. I think

that that's a marketing methodology that

everybody's doing. But it's authenticity

that actually resonates most. And I

think what I'm most proud of is our

team's ability to really dialogue with

creative and creative communities that

create that authenticity that customers

today recognize and value. Not

everything goes perfectly, but that is

part of the creative conversation and

sometimes it's a little creative chaos.

But I think our consumer really

appreciates that and and certainly it's

resonating.

>> So you're not going to we're not going

to find the the Gap and Old Navy name

plastered on the F1 cars. Because look,

I mean there's no more space on these F1

cars. I mean this is like all the space

is taken. And what's the return on that

stuff?

>> That's that's probably not our space,

actually. But I think that's a good

example, you know, is is the brand

filter F1 or is it something else? And I

think, you know, you can get really as a

brand

owner, if you will, you you you want to

see your brand everywhere. But really

what you want to see your brand is

everywhere with precision that makes

sense to the customer that you're trying

to court. And so, that is a careful

curated marketing and media, I'd say,

adventure, which obviously, you know,

we're we're starting to do a lot better

with.

>> You quickly turned into a Gap historian

when you took over this job. How far do

you want to take Gap back to that

initial store? I I get you're not going

to sell music because you go on Spotify

and use that. But, is that store still

an inspiration for you? And if it is,

what will a Gap store look like next

year?

>> Yeah. Well, I I can tell you we we we

find our inspiration with the origin

stories of every one of our brands. You

know, these were brands that

uh broke through not because people

needed it, but because we created the

want. And in the context of Gap's story,

again, when you think about the origin

story of bridging the generation gap, we

brought generations together, and music

was a key component of that. And so, I

think as we venture into the space of

relevance for today and drive revenue

associated with that, it is music, it is

storytelling, and it's great product.

And so, when you go into a Gap today,

and certainly the ones that we've

remodeled, you feel that energy, you

feel that vibe. Uh you see great product

and great storytelling with great music

and great service. That is a model that,

by the way, is not easy to replicate

into the context of real scale, but it

is the quest that we have to be

high-performing. And as Gap evolves, and

we drive categories like beauty and

accessories, and we relaunch favorites

like Gap Body, you know, Gap will

continue to propel itself and create Gap

world. And that is essentially what

we're so excited about is that now that

we have momentum and connectivity,

really the sky's the limit in terms of

how much more we can do with Gap.

>> I've uh

I've talked to a couple consumer CEOs

here. Uh e.l.f. Beauty CEO Tarang Amin,

he he told me

that they have cut prices and the

lower-income

uh shopper has responded positively.

Checked on, that's cool. Marriott CEO

Anthony Capuano I me that July 4th

weekend bookings look strong. Checked

out it looks good too as well.

Have you seen any improvement in the in

how your consumer is shopping the store

this summer?

>> Yeah, we we've seen I'd say steady and

consistent behavior from our, you know,

consumer base. I mean we we've reported

in our earnings we've been growing

across all income cohorts, low, middle,

and high. We've seen a steadiness uh in

the context of uh consumer reaction to

our business. I would say, you know,

with all the things happening in the

world today, you know, and and to some

extent all the uncertainty that we all

deal with, the consumer's reaction is

pretty steady. And ultimately, you know,

it's our job to create that demand and

want and need in the in the sea of

competitive, if you will, landscape. But

um but the consumer's out there. And

when you offer great product at great

price with great branding, they respond.

And so, it's our job to continue to do

that.

>> Lastly, I walk, you know, I go into

Banana. I buy a lot of my clothes at

Banana Republic. And I've told you this

before, I went in there recently and

things felt Look, I'm not tracking

prices. It felt a little more expensive,

okay? Especially on the bathing suit

side. What type of cost pressures is

your company still dealing with at this

point in the tariff drama?

>> So, I think we're all dealing with the

tariff uh situation, but I think in in

terms of our case, our team has

mitigated the tariffs really well.

>> And also, I'm not knocking you, but

stuff is higher quality. So, I just

wanted to get that off my chest.

>> that. I'm surprised you're not wearing a

bathing suit today.

>> the shirt.

>> [laughter]

>> No, I don't want to You know, I I I I do

I I actually have it in my bag.

>> I'm glad it's working for you. Look, we

we have with precision taken price

increases where we believe the quality

and the value proposition remains intact

uh given the breadth of our portfolio

and the size of these brands, um it is a

very careful orchestration and arguably

with precision pricing, we've been able

to mitigate. Um it's not the only form

of mitigation. Obviously, behind the

scenes there's a lot of cost savings,

there's partnerships with our

manufacturers that we work

uh in tandem with. But ultimately,

again, as we present our portfolio, it's

a really important aspect to present the

right value and the right quality

equation. Occasionally, it's too high.

Occasionally, we're selling things at

too low and then that's the sort of art

and the science combined in the in doing

what we do.

>> As always, rolling up to Yacht Beach, uh

the best dressed men uh here at

Cadillac. Good to see you, Richard. I

appreciate it.