Final answer:
Gap Warehouse was renamed as Old Navy in 1994, creating a new identity for the brand known for offering affordable fashion for families.
Step-by-step explanation:
In 1994, the clothing retailer Gap Warehouse was rebranded as Old Navy. The new name signified the launch of a new brand identity, which aimed to provide fun, fashion, and value for the whole family. The name Old Navy was inspired by a bar in Paris, intending to evoke a nostalgic, maritime feel. Gap Inc. sought to create a new store that would complement its existing brands by offering an amazing array of items at great prices.