Gap Jumps Into Luxury Game
For weeks, people have been speculating, dissecting, and hypothesizing about the potential sale of Intermix to Gap. Well folks, it happened. Gap has purchased Intermix for $130 million and entered the luxury fashion world.
The deal should be mutually beneficial for both parties. Gap can raise the profile of Intermix and already has big plans to up Intermix’s online presence. Intermix brings the Gap family into the world of fashion that goes beyond affordable basics.
Gap, Inc. already has a slew of stores under their belt with family friendly Old Navy, business professional Banana Republic, fitness mined Athleta, and online boutique Piperlime, and this acquisition will only add to Gap, Inc.’s offerings. There’s definitely nothing like Intermix in their brand family, so the addition will fill a void for the Gap lovers who want something a little edgier, more modern, and higher end than their trusted, comfortable boyfriend jeans.