SAN FRANCISCO—Retail company Gap Inc. announced on Monday, February 8 that Old Navy’s headquarters in San Francisco will close and move into Gap’s building.

The SF Chronicle reported that Gap made the change “to encourage an enable this cultural transformation.” No date has been revealed as to when Old Navy’s headquarters in Mission Bay will close.

Gap Inc. owns several divisions, which include Old Navy, Banana Republic, Athleta, Intermix, and Janie and Jack. Gap Inc. did not respond back to inquiries from the San Francisco News before print.

Gap Inc. has closed more than 130 Gap and Banana Republic stores in the last year with more than a dozen located in California and three located in San Francisco.

In October 2020, Gap Inc. said it plans on closing 30 percent of Banana Republic and Gap stores “across North America by the end of 2023” in order to have “a smaller and healthier fleet of stores,” as stated on its website.

This comes after Gap Inc.’s third quarter results which were released in November 2020, showed a “61% increase in online sales,” but a “20% decline in store sales,” the company’s website states.  Globally, sales increased for Old Navy and Athleta, but decreased for Gap and Banana Republic.

Old Navy was founded in 1994, 25 years after the founding of Gap in 1969 by Don and Doris Fisher.  The first Gap and Old Navy store opened in San Francisco.