Gap Inc. agrees sale of Intermix
Gap Inc. has announced it has entered into an agreement to sell onmi-channel fashion boutique Intermix to private equity firm Altamont Capital Partners, with the intention to acquire the entire business, including all store leases, e-commerce and assets.
This transaction is another step for parent company as it continues to execute against its Power Plan 2023, with acute focus on growing its purpose-led lifestyle brands by leveraging the power of its portfolio and its platform.
Gap Inc. acquired Intermix in 2012 and today the brand has 31 store locations in the United States and a global e-commerce business.
In April 2021, Gap Inc. completed a transaction to sell premium children’s apparel and accessories brand Janie and Jack to Go Global Retail.
Gap Inc. Head of Strategy, Sally Gilligan, commented: “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."
In October 2020, Gap announced it was considering the exit of company-owned retail in the UK and Europe.
