VENTURE CAPITAL POST

Gap Inc. has appointed American fashion designer Zac Posen as the chain's new executive vice president and creative director.

Morgan Stanley lowered Gap's stock to an "underweight" rating from "equal-weight", citing key weakness in the company's business. Analyst at Morgan Stanley fixed an objective price of $26 for Gap's stock, down 11% from the present level.

The Gap Inc (Gap Inc) share fell over five percent to $27.69 and later rebounded to $28.45 a share on funds buying support on New York Stock Exchange (NYSE).

Founder Ralph Lauren quit the position as the CEO of the Ralph Lauren Corporation. He will be replaced by Stefan Larsson in November. After five decades, the fashion industry veteran, Ralph Lauren steps down as the company's CEO. Mr. Lauren appoints Stefan Larsson to take over the position. All the same, the legendary designer will still lead Ralph Lauren Corporation as an executive chairman and chief creative officer, the Wall Street Journal reported.

Gap Inc (GPS.N) Chief Executive Glenn Murphy will retire in February and hand over the reins of the apparel retailer to its digital business head Art Peck, as the company looks to tap customers' increasing preference for online shopping.

As they open their first Old Navy store in China, Gap Inc will be increasing its efforts to promote their brand online so it can capitalize on the country's fast-growing e-commerce sector, Reuters reported.