Are Gap And Intermix Joining Forces?
Luxury chain Intermix is looking for someone to help expand its platform, and it looks like retail giant Gap Inc. might be just the firm to to do it.
According to WWD, the high-end retailer “has been looking for a strategic partner” since this summer. Founder and CEO of Intermix Khajak Keledjian said,
“Intermix is currently in discussions with Gap Inc. We are excited to potentially align with this iconic retailer to capitalize on the significant growth potential within the luxury market. As we are in the midst of the due diligence process, we cannot comment further.”
While the details of the partnership aren’t exactly clear, Gap Inc. has a particular knack for growing and operating other brands. The company currently controls Piperlime, Banana Republic, Athleta, and Old Navy, but teaming up with Intermix would be Gap’s first time partnering with a luxury retailer.
An acquisition reportedly hasn’t been ruled out yet, and as Intermix is profitable, buying the company might not be a bad move on Gap’s part. There have also been whispers of Intermix’s future partner, when and if it seals the deal with one, helping the retailer to launch its own label. And judging by the awesome clothes Intermix stocks, we think we would be on board!