US: Gap Inc acquires Intermix for US$130m
Gap Inc has acquired New York-based multi-brand women's wear retailer Intermix for approximately US$130m.
Intermix operates 32 boutiques across North America and an e-commerce site, offering a mix of luxury brands and up-and-coming designers.
Gap said it sees an opportunity to expand Intermix's network of stores, and add significant visibility and enhancements to its online site.
"We're thrilled to have found a partner that has the global scale and infrastructure required to support our vision for growth," said Intermix co-founder Khajak Keledjian. "Gap Inc. shares many of our entrepreneurial roots, passion for innovation and customer experience. Together, we'll continue to shape the future of retail by offering the most exciting fashion trends with the finest designers in the world."
The acquisition is Gap's first since 2008, when it acquired Athleta, which Gap developed from a catalogue business to a "strong e-commerce platform and bricks-and-mortar presence".
The deal completed on 31 December.
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