Gap buys high-end apparel retailer Intermix for $130 million
January 4, 2013 12:12 PM
Gap Inc. has bought Intermix Holdco Inc., a specialty women’s apparel retailer, for $130 million, Gap announced this week.
Intermix sells clothing and accessories from prominent designers such as Yigal Azrouel, Yves Saint Laurent, Missoni, Helmut Lang, Stella McCartney, Jimmy Choo and McQ by Alexander McQueen, in its 32 stores in the U.S. and Canada and on its e-commerce site.
Gap says there is opportunity to expand the number of Intermix stores and to make changes to the Intermix e-commerce site. It did not say what those changes might entail, or when such work might start.
“Intermix has a distinctive position in this growing market with clear competitive advantage,” says Glenn Murphy, Gap chairman and CEO. Intermix co-founder Khajak Keledijan will continue to oversee the retailer as chief creative officer, Gap says.
Gap’s e-commerce unit, Gap Direct Inc., is No. 22 in the Internet Retailer Top 500 guide.