Photo: INTERMIX
We love a good takeover, especially when it involves designer labels. GAP Inc. just announced it has scooped up INTERMIX, a multi-brand luxury boutique based in NYC, for $130 million (aka. drop in the bucket)
INTERMIX - which has 32 U.S stores, 1 Toronto boutique, and an extensive e-commerce site - offers top luxury labels like Jimmy Choo, Chloe, Bottega Veneta, Valentino and Stella McCartney. Yum. Gap plans to expand INTERMIX’s network of stores, as well as improve and expand its e-commerce site - such great news for online shoppers like me.
“We’re thrilled to have found a partner that has the global scale and infrastructure required to support our vision for growth,” said Khajak Keledjian, co-founder of INTERMIX. “Gap Inc. shares many of our entrepreneurial roots, passion for innovation and customer experience. Together, we’ll continue to shape the future of retail by offering the most exciting fashion trends with the finest designers in the world.”
The acquisition will see the brand become part of Gap's impressive line-up of retailers, which already includes Banana Republic, Old Navy, Piperlime and Athleta. Does this mean INTERMIX will start having Friends & Family sales, too? A girl can dream...