Gap Inc. Buys Intermix For a Whole Lot of Moolah
(Photos via Gap.com; Intermix.com) A brief merchandise comparison of Gap vs. Intermix
So, Gap Inc. went ahead and bought itself a really, really pricey post-holiday present. According to a report in WWD, the retail mega-company just aquired Intermix, and paid $130-million in cash for the luxury chain! We can't even fathom how many super-soft tees that is...
The push to take over Intermix—which, if you're not familiar, stocks ready-to-wear high-end labels such as Proenza Schouler, 3.1 Phillip Lim, and Helmut Lang—seems like a strange move considering, with the exception of Piperlime, all the stores in Gap's portfolio (Banana Republic, Old Navy, Gap, and Athleta) sell their own budget-friendly brands.
Just check out the comparision of Gap's basics to Intermix's elaborate outfits, above. Big difference, no?
Along with the purchase, Gap plans to grow Intermix's e-comm presence, expand internationally, and add more designers into the, uh, mix. In other words, Gap's future is looking a lot more luxe!
What do you think about the news? Do you shop at Intermix? Any of Gap's other brands? What kind of things do you buy at each? Sound off in the comments, below!
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