Gap is Selling Its Intermix Business to a Private Equity Firm
Daniel Johnson — May 5, 2021 — Business
References: gapinc & retaildive
Gap Inc. announced that it will sell its Intermix business to a private equity firm named Altamont Capital Partners.
The deal will include Altamont taking total control of the Intermix business. The private equity firm will control all retail locations, assets, and e-commerce. Recently Gap also sold its Janie and Jack children's clothing business. Intermix started operations in New York City in 1993 and was subsequently purchased by Gap in 2012. Currently, Intermix runs a total of 31 locations and e-commerce operations.
"The sale of Janie and Jack and planned transaction of Intermix demonstrate how we are prioritizing our strategic focus and resources behind the growth and potential of Old Navy, Gap, Banana Republic and Athleta," said Sally Gilligan, the Head of Strategy at Gap.
Image Credit: Gap
The deal will include Altamont taking total control of the Intermix business. The private equity firm will control all retail locations, assets, and e-commerce. Recently Gap also sold its Janie and Jack children's clothing business. Intermix started operations in New York City in 1993 and was subsequently purchased by Gap in 2012. Currently, Intermix runs a total of 31 locations and e-commerce operations.
"The sale of Janie and Jack and planned transaction of Intermix demonstrate how we are prioritizing our strategic focus and resources behind the growth and potential of Old Navy, Gap, Banana Republic and Athleta," said Sally Gilligan, the Head of Strategy at Gap.
Image Credit: Gap
Trend Themes
1. Private Equity Investments - The sale of Intermix to a private equity firm is a trend that may disrupt the retail apparel industry through M&A activity.
2. Retail Consolidation - The sale of both Janie and Jack and Intermix indicate a possible trend towards consolidation in the retail industry as companies seek to focus on core brands and divest non-core assets.
3. E-commerce Expansion - The acquisition of Intermix by a private equity firm presents an opportunity for e-commerce expansion and innovation in the fashion industry.
Industry Implications
1. Private Equity - Private equity firms can take advantage of the trend towards retail M&A activity by investing in companies like Intermix to capitalize on consolidation opportunities.
2. Retail Apparel - The sale of Intermix and Janie and Jack indicate a trend towards consolidation in the retail apparel industry, potentially presenting opportunities for disruptive innovation.
3. Fashion E-commerce - Altamont Capital Partners' acquisition of Intermix could lead to innovative e-commerce solutions and expansion opportunities in the fashion industry.
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