Gap Inc. Acquires Janie and Jack
newsdepo.com
Gap Inc. recently announced that it has bought Janie and Jack, a premium children’s fashion line, from Gymboree Group Inc. Janie and Jack has over 100 retail stores in the US, as well as an e-commerce site offering apparels, as per the Gap website.“I am pGap Inc. Acquires Janie and Jack
Gap Inc. recently announced that it has bought Janie and Jack, a premium children’s fashion line, from Gymboree Group Inc. Janie and Jack has over 100 retail stores in the US, as well as an e-commerce site offering apparels, as per the Gap website.“I am pleased to welcome Janie and Jack to the Gap Inc. family, and to expand our portfolio into the premium kids and baby business,” said Art Peck, President and CEO of Gap Inc, on the website. Peck further added, “Janie and Jack has a strong and loyal customer following that complements our existing brands, with a clear path for growth ahead.”“This is an exciting outcome for Janie and Jack, and we are incredibly pleased that our brand will continue to serve our customers with its unique modern classic aesthetic as part of the Gap Inc. family,” said Shelly Walsh, SVP and General Manager of Janie and Jack, on the website. “We are thrilled to be joining another San Francisco Bay Area retailer who shares our passion for creating and providing high-quality clothing and delivering exceptional customer experiences. I want to thank all of our Janie and Jack employees for their hard work and dedication to building a strong brand with a bright future.”The process of acquisition was completed a few days ago, with Gap Inc. buying out Janie and Jack for about $35 million along with an additional agreement signed for the purchase of Janie and Jack inventory at cost plus additional fees and expenses. Even after the buy-out, Janie and Jack will go on with the operation of its standalone brand based in San Francisco.“Gap Inc. is a leading global retailer offering clothing, accessories, and personal care products for men, women, and children under the Old Navy, Gap, Banana Republic, Athleta, Intermix, and Hill City brands. The fiscal year 2018 net sales were $16.6 billion. Gap Inc. products are available for purchase in more than 90 countries worldwide through company-operated stores, franchise stores, and e-commerce sites,” states the website.Janie and Jack has also made a name for itself in children’s fashion. As per the brand’s website, it is an iconic design house with a modern take on classic silhouettes and a sophisticated sensibility. They aim at setting themselves apart with inventive storytelling and outstanding quality.Click on the slideshow for a sneak peek at Janie and Jack https://www.blouinartinfo.com/ Founder: Louise Blouin Read more