, Columnist
Gap's Failed Fixer Is Trying His Hand at SPACs. Now?
Art Peck was unable to revive one of America's most iconic clothing companies. Why should investors trust him to build a new retail juggernaut?
Just as Art Peck missed trends while running Gap, he may have missed the SPAC party.
Photographer: David Paul Morris/Bloomberg
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Another day, another SPAC – this time, for cutting-edge apparel and other consumer goods.
Good Commerce Acquisition Corp. filed for a $200 million initial public offering this week, saying in a regulatory filing that it will seek targets in the clothing and accessories business as well as brands in the outdoor, wellness and home categories. The blank-check company is led by Art Peck, who served as CEO of Gap Inc. for several years before exiting in 2019 amid sagging sales.