Gap Sells Childrenswear Label Janie and Jack - SolidRumor.com

Gap Sells Childrenswear Label Janie and Jack

 Gap Sells Childrenswear Label Janie and Jack

Gap Inc sold childrenswear label Janie and Jack. Shutterstock

As part of a three-year strategic plan to focus its four largest brands — Old Navy, Gap, Banana Republic and Athleta — Gap Inc. said it will sell its children’s business to investment firm Go Global Retail on Thursday. 

Gap bought Janie and Jack in 2019 for $35 million from Gymboree Group Inc. It has a web business and counts 115 stores in the US. Terms of the deal were not disclosed.

In March, Gap Inc said it was reviewing Intermix, a multi-brand retailer and contemporary fashion, and recorded a $56 million impairment chart for the business. Last year, Gap Inc shut down another smaller sub-label, the men’s athletic brand Hill City. The company also said it is reviewing its European business, which represents 2 percent of total sales.

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