Gap Inc. acquired Intermix in 2012 and today the brand has 31 store locations in the United States and an e-commerce business.
This transaction is another milestone as Gap Inc continues to execute against its Power Plan 2023, with acute focus on growing its purpose-led, billion-dollar lifestyle brands by leveraging the power of its portfolio and its platform, the company said in a statement. In April, Gap Inc completed a transaction to sell Janie and Jack, a leader in premium children’s apparel and accessories, to Go Global Retail.
“We are committed to driving long-term, profitable growth for our shareholders and employees, while delivering unique product and experiences for our customers at scale. The sale of Janie and Jack and planned transaction of Intermix demonstrate how we are prioritising our strategic focus and resources behind the growth and potential of Old Navy, Gap, Banana Republic and Athleta," Gap's head of Strategy Sally Gilligan said.
BofA Securities, Inc acted as exclusive financial advisor to Gap on the transaction. Terms of the agreement were not disclosed.
Fibre2Fashion News Desk (RKS)
| On 21st Aug 2021
Egypt has allocated EGP 125.7 billion in public investments for the...
Hohenstein Institute America has developed a quantification method...
| On 20th Aug 2021
Cotton exports from Uzbekistan are expected to rise in the coming...
Increase foreign exchange and create jobs
Extension of RoSCTL to boost textile exports
Donating 20,000 N95 masks to hospitals & NGOs
With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...
Kishina Daruka and Mishika Daruka
Headquartered in Kolkata, India, sustainable clothing brand Ora was...
The Riri Group is a one-stop supplier of metal accessories for the luxury...
INDA, a global association of the nonwoven fabrics industry, has been...
Dr Anup Rakshit
The Indian Technical Textile Association (ITTA) is the only association of ...
UK-based Directa Plus is one of the largest producers and suppliers...
Gramin Vikas Evam Chetna Sansthan
<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...
A Humming Way
A Humming Way (AHW) is inspired by the old-world regalia of Rajasthan...
Shalini Sharma & Shweta Pundir Sharma
Six Yard Story
Six Yard Story is a premium artisanal brand with a focus to bring handloom ...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.