In Trends

Gap plans to sell Janie and Jack

Janie and Jack

Aligned to Gap Inc.’s Power Plan 2023, the company is focused on growing its purpose-led, billion-dollar lifestyle brands by leveraging the power of its portfolio and the power of its platform.

SEE ALSO : Gap announces financial results

With this, Gap Inc. has entered into an agreement to sell Janie and Jack, a in premium children’s fashion, to Go Global Retail, an investment platform in the fashion and consumer brand sector. Go Global Retail intends to acquire the entire Janie and Jack business, including the e-commerce platform, all store leases, and assets.

Commenting on the transactions, Gap Inc. Head of Strategy, Sally Gilligan, said, “As part of Gap Inc.’s Power Plan 2023, and exemplified by this transaction, we are prioritizing strategic focus and resources behind the growth and potential of our billion-dollar brands in Old Navy, Gap, Banana Republic and Athleta.”

BofA Securities, Inc. acted as exclusive financial advisor to Gap Inc. on the transaction. Terms of the agreement were not disclosed.

SEE ALSO : Shiseido to sell personal-care business

Gap Inc. acquired Janie and Jack in 2019 and today the brand has about 115 store locations in the United States and an e-commerce business.

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