There has been lost of speculation of what the big whigs over at Gap and Intermix have been discussing. Word around the water cooler was the two retailers were going to collaborate. Well, the gossip was correct. Kind of.
Find out whats really happening after the break.
Gap actually bought Intermix. The $130 million cash acquisition was finalized on Dec. 31. Looks like the two retailers had everyone fooled. The fashion world was thinking collaboration (sequin chinos maybe?), but Gap had takeover on the brain. We’re kind of looking forward to the expected changes to come as a result of the acquisition. Intermix gets to expand (they’re reportedly opening stores in Brooklyn, San Francisco, and Montecito this year) and gets access to e-reservation services, while Gap benefits by having a strong and respected retailer under its umbrella. Win-Win? We’ll see. We hope so though.
Image courtesy of Fashionista