In 2008, like many other retailers during the global financial crisis known as the "Great Recession" GAP faced a significant decline in sales and revenue. To revitalize its image and attract new customers, GAP opted for a rebranding initiative in 2010, which included updating its logo.

The new logo, unveiled in October 2010, featured the word "Gap" in bold black letters against a white background, accompanied by a gradient blue square. Laird and Partners Creative Agency of New York developed this design, with the rebranding effort costing the company $100 million.

GAP's clothing line had always been known for its convenience, good quality, and affordable prices, rather than being super trendy. The old logo, in use since 1990, perfectly reflected these qualities and had become iconic over the years.