Why Gap's Acquisition of Intermix Could Mean Awesome Things for Online Shopping
While Times Square was preparing to drop a ball and Kimye was preparing to drop a bomb on New Year's Eve, Gap was finalizing the details of its acquisition of specialty retailer Intermix. WWD reports that the deal, which fueled some rumors and speculation last month, closed on Dec. 31 to the tune of $130 million. The partnership should aid both brands: Intermix can use Gap's massive reach to grow its own retail and e-tail presence, while Gap can benefit from Intermix's expertise in the contemporary luxury market. But most exciting: Gap also intends to beef up Intermix's website with some innovative-sounding improvements.