Gap Acquires Intermix
Gap inc. has reportedly acquired Luxury retailer Intermix for a tune of $130 million according to Women’s Wear Daily. That’s a heck of a lot of money, but it seems to make sense for both retailers. Intermix wants to expand its reach, and with the power of one of the world’s biggest retailer’s behind them it’s looking likely. The Gap on the other hand desperately wants a foray into the Luxury Market. According to WWD gap plans on expanding Intermix overseas as well as multiplying the store count.
Currently Intermix only has one store in Canada- on Toronto’s Bloor street, so look for more locations to start popping up.
Intermix carries mid-high to high-high rangs of priced products, from Givenchy, to Rag & Bone to VINCE. Interestingly with this new partnership, WWD suggests that Intermix will be looking to create a private label as well as introduce men’s clothing.
We’re just excited to see what these two brands to next!
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